RealTime IT News

Stocks Gain On Tame Inflation News

Stocks surged Friday on a tame consumer inflation report and comments by U.S. Secretary of Defense Donald Rumsfeld that U.S. troops are ready to invade Iraq.

The Nasdaq rose 17 to 1349, the S&P 500 gained 11 to 848, and the Dow rose 103 to 8018. Volume rose to 1.37 billion shares on the NYSE, but declined to 1.33 billion on the Nasdaq. Advancers led 22-9 on the NYSE, and 19-11 on the Nasdaq. Upside volume was 72% on the NYSE, and 66% on the Nasdaq. New highs-new lows were 60-60 on the NYSE, and 62-69 on the Nasdaq.

SBC fell once again on concern about a mixed FCC ruling, but fellow Baby Bells Verizon and BellSouth rebounded. Covad was also hit hard on the FCC ruling.

Cisco , up 2.8%, may make an acquisition in the optical space, according to an IDC report.

Agilent surged 6.8% after beating reduced estimates and announcing job cuts.

E*Trade rose 6.4% after promising big changes.

NextLevel gained 7.5% after Motorola extended its offer to March 4.

AOL , up 0.4%, began accepting front-page ads.

HP , up 1.7%, won an outsourcing deal.

Microsoft , up 1.9%, unveiled technology to secure corporate documents.

Intel , off 1.4%, continued to outline its plans for ubiquity.

IBM , up 1.2%, plans a high-powered server release soon.

Serena surged 9% on its earnings report, but BEA , Portal Software and JD Edwards fell on their reports.

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