Internet Stocks Stage Broad Rally
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One day after one of the largest one-day drops ever, Internet stocks Wednesday staged a strong rebound.
Internet.com's Internet Stock Index climbed 38.84, or 7.87 percent, to 539.01, the Nasdaq Composite climbed 64.04 to 2,408.65 and the Dow Jones industrial average climbed 8.02 to 10,448.55.
Online brokers once again posted strong gains. E*Trade Group Inc. (EGRP) jumped 16 to to 89-13/16 after reporting a 12-cent loss for its fiscal second quarter. That led the sector high, sending Ameritrade (AMTD) up 23-1/4 to 111-1/8, JB Oxford Holdings (JBOH) climbed 2-7/16 to 15-3/8.