Wall Street Rebounds on Tech StrengthStocks moved sharply higher Thursday, as technology shares led a broad recovery following solid earnings reports from three bellwether tech companies. Microsoft, Nokia and Sun Microsystems all beat Wall Street expectations, reversing what had become a third quarter trend among widely-held tech companies, The upturn lifted the Dow Jones industrial average above 10,000, one day after the blue chip index fell below that milestone for the first time since March. The Dow closed up 167.96 at 10,142.98, according to preliminary calculations. The tech-focused Nasdaq composite index also enjoyed a sharp turnaround, climbing 247.17 to 3418.72. The 7.8% climb represented the Nasdaq's third biggest percentage gain ever. The Standard & Poor's 500 index was up 43.29 at 1385.42.
|