RealTime IT News

Stocks Rise Ahead of Jobs Report

Stocks posted modest gains Thursday, as solid productivity and retail sales reports and falling jobless claims helped investors overcome jitters ahead of Friday's monthly jobs report.

ADC Telecom was a big winner for the tech sector, gaining 8% after tripling its earnings from the year-ago quarter.

Apple lost ground again, this time after CEO Steve Jobs apologized for iPhone price cuts and pledged $100 credits to previous buyers.

Tibco fell 7% after lowering guidance, and CDC tumbled on its results.

Level 3 lost 4% on a downgrade, while Conexant jumped on an upgrade.

Clearwire soared after rolling out service in Nashville.

The Nasdaq added 8 to 2614, the S&P 500 rose 6 to 1478, and the Dow gained 57 to 13,363. Volume declined to 2.46 billion shares on the NYSE, and 1.87 billion on the Nasdaq. Advancing issues led by a 20-12 margin on the NYSE, and 16-13 on the Nasdaq. Upside volume was 65% on the NYSE, and 59% on the Nasdaq. New highs-new lows were 43-69 on the NYSE, and 85-58 on the Nasdaq.