Technology stocks rallied sharply higher yesterday as strong earnings from tech giants, drove the Nasdaq composite index to its third largest percentage point gain ever, and lifted the Dow Jones Industrial Average back above the 10,000 level.

The rally coincided with the 13th anniversary of Black Monday, the October 1987 stock market crash when the Dow plunged 508 points, or 23 percent, its worst percentage loss.

Chronic investor fear about corporate earnings was, for the moment, set aside by expectation-topping profit reports from Microsoft and cellular telephone giant Nokia.

On Wednesday, the lack of confidence about earnings weighed heavily on the Dow, which careened to a 438-point loss before bouncing back. News from Microsoft and others swung market sentiment around yesterday.