Stocks bounced back from a steep decline Wednesday, as investors awaited a UN vote on Iraq that could take place by the end of the week.
The Nasdaq gained 7 to 1279, the S&P 500 tacked on 3 to 804, and the Dow climbed 28 to 7552. Volume rose to 1.54 billion shares on the NYSE, and 1.53 billion on the Nasdaq. Decliners led 18-13 on the NYSE, and 16-14 on the Nasdaq. Upside volume was 49% on the NYSE, and 57% on the Nasdaq. New highs-new lows were 42-327 on the NYSE, and 27-143 on the Nasdaq.
After the close, Cymer warned. Comverse
beat estimates, but announced that its president is stepping down.
During the day, Rambus and Infineon
both gained 3% as the industry continued to take sides in their landmark dispute.
Intel rose 2.2% after officially unveiling its wireless platform. Never one to pass up a shot at Intel, AMD
unveiled mobile processors.
Broadcom gained 4.5% on an upgrade.
CDW gained 1.3% despite warning.
AOL , off 3%, plans to block pop-ups with AOL 8.0. Yahoo
, up 1.2%, is fighting spam.
Oracle , up 3%, is pushing business intelligence.
Red Hat gained 2.2% on strong sales.
Expedia , up 0.7%, is placing more emphasis on hotel reservations.
IBM , down 0.2%, will take over some data centers from BellSouth
.
EMC , up 0.6%, is targeting the mid-range market.
HP rose 1% after unveiling a printer services initiative.
And Gartner said the economy and threat of war are depressing PC sales.
Market Commentary: For our free daily market commentary and technical analysis, please visit the InternetStockReport.com home page at:
http://www.InternetStockReport.com.