TECH STOCKS: Gains All RoundTECH STOCKS: Gains All Round
Investors shrugged off uncertainty, the recent sell-off, and a somewhat alarming report on the number of first-time seekers of unemployment benefits.
On the second anniversary of the 9/11 attacks, investors shrugged off uncertainty, the recent sell-off, and a somewhat alarming report on the number of first-time seekers of unemployment benefits, to push our indexes up.
The gains came as a mild surprise given that Wall Street, which was particularly hard hit by the attacks, could have noted the occasion with a dose of pathos. In fact, traders did pause for several moments of silence during the morning session.
But during the trading session, buyers--particularly tech buyers--were active. One of the big winners was Adobe Systems, which rose $3.06, or 8.4%, to close at $39.46. Intel rose 37 cents, or 1.3%, to 28.03; Cisco rose 25 cents, or 1.2%, to $20.71; Oracle rose 13 cents, or 1% to $12.98; and Sun Microsystems rose 13 cents, or 3.4%, to $3.93.
The Nasdaq composite rose 22.28 points, or 1.2%, to 1,846.09. Interestingly, our information 100 was up just 1.17 points, or 0.4%, to 281.33, matching the percentage gain in the Dow, which rose 39.3 points, to 9,459.76. The S&P 500 rose 5.5 points, or 0.5%, to close at 1,016.42.
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