Tech stocks gained Wednesday on news that Microsoft Windows can now be used on Intel-based Apple computers.
Investors decided the news meant greater PC sales for Apple , sending the company’s shares 10% higher, but they weren’t so sure what it meant for anyone else. Microsoft
and Intel
gained less than 1% on the news, while Dell
closed fractionally lower.
The broader market gained after Treasury Secretary John Snow said he expects a solid jobs report on Friday.
The Nasdaq rose 14 to 2359, the S&P 500 gained 5 to 1311, and the Dow climbed 35 to 11,239. Volume rose to 2.38 billion shares on the NYSE, but declined to 2.03 billion on the Nasdaq. Advancers led 19-12 on the NYSE, and 16-13 on the Nasdaq. Upside volume was 66% on the NYSE, and 68% on the Nasdaq. New highs-new lows were 252-57 on the NYSE, and 203-42 on the Nasdaq.
Covad soared 22% on an investment from Earthlink
.
AMD gained 4% after ramping up production at a new plant in Germany. The company reports quarterly results next week.
Autodesk , Silicon Motion
and M-Systems
rose after giving positive guidance.
PMC-Sierra gained 8% on an acquisition.
Creative Tech fell on a warning.