Bulls Bounce Back
The Nasdaq rose 21 to 1391, the S&P 500 climbed 10 to 874, and the Dow gained 65 to 8280. Volume rose to 1.32 billion shares on the NYSE, and 1.42 billion on the Nasdaq. Advancers led 23-9 on the NYSE, and 20-10 on the Nasdaq. Upside volume was 83% on the NYSE, and 83% on the Nasdaq. New highs-new lows were 40-28 on the NYSE, and 56-33 on the Nasdaq.
After the close, Red Hat missed estimates.
During the day, Symantec gained 4% on news that it will be added to the S&P 500 on Friday.
Qwest rose 3.8% on a Department of Energy contract.
Intel, up 1.2%, won a patent for technology that stops overclocking.
IBM rose 1.5% on a CRM initiative.
University of Phoenix Online tacked on 0.1% on better than expected results and guidance.
Foundry surged 7% on positive analyst comments.
Microsoft, up 0.8%, pulled out of a Web services standards group.
HP, off 0.2%, hopes to enable 3D Web browsing.
Market Commentary: For our free daily market commentary and technical analysis, please visit the InternetStockReport.com home page at:
http://www.InternetStockReport.com.