TECH STOCKS: Last Week's Earnings Worries AbateTECH STOCKS: Last Week's Earnings Worries Abate

A buying surge pushed all of our stock indexes higher Monday. Our information 100 index jumped more than 2%, and the tech-heavy Nasdaq gained more than 1% to hit a new 2-1/2 year high. The Dow and the S&P 500 made up some of their Friday losses.

Traders are apparently optimistic about the coming barrage of earnings reports due over the next few weeks, including those this week from Apple Computer, Intel, and Sun Microsystems. Sun shares rose more than 2%, to $5.45, and Oracle shares rose more than 3%, to close at $14.66. Computer Associates shares fell nearly half a percent, to $27.99, however, after the company said it could face civil charges from the Securities and Exchange Commission concerning its accounting practices in fiscal 2000.

The Nasdaq-100 tracking stock closed at $38.29, up 56 cents, or 1.5%, on respectable trading volume of nearly 73 million shares. Hewlett-Packard, whose shares rose more than 2%, to $24.68, said Monday that its stock would be listed on the Nasdaq exchange as well as the New York Stock Exchange.

Our information 100 index rose 7.81 points, or 2.3%, to 344.72, while the Nasdaq rose 24.86 points, or 1.2%, to 2,111.78. The Dow rose 26.29 points, or 0.3%, to 10,485.18, and the S&P 500 rose 5.37 points, or 0.5%, to finish the day at 1,127.23.