TECH stocks rose yesterday as a midday rally powered the market out of fresh 2002 lows on a mix of expectations and speculation, including a possible Microsoft positive earnings announcement.
Dow Jones Industrial Average: 9,281.82 (+28.03)
The Nasdaq composite, dominated by large technology companies, rose 19.36 points, or 1.34 per cent, to 1,460.32, according to the latest data, while the Dow Jones Industrial Average added 28.03 points, or 0.30 per cent, to 9,281.82. The benchmark Standard & Poor's 500 was up 3.57 points, or 0.36 per cent, to 992.71.
Earlier, the composite was down more than 26 points, or nearly 2 per cent, while the Dow had tumbled 170 points, or about 1.8 per cent.
The S&P and Nasdaq reached intraday lows not hit since late September after the September 11th attacks and the Dow touched a low last reached on November 1st.
Microsoft shares climbed 3.6 per cent, or $1.88, to $54.16. Officials at the company were not immediately available to comment. - (Reuters)
