Better than expected results from Dow components Procter & Gamble and McDonald’s sent stocks to strong gains on Monday.
The Nasdaq gained 27 to 1462, the S&P 500 rose 16 to 914, and the Dow surged 165 to 8471. Volume declined to 1.27 billion shares on the NYSE, and 1.46 billion on the Nasdaq. Advancers led 24-8 on the NYSE, and 21-10 on the Nasdaq. Upside volume was 86% on the NYSE, and 80% on the Nasdaq. New highs-new lows were 156-21 on the NYSE, and 146-29 on the Nasdaq.
After the close, Intuit , FreeMarkets
, Macrovision
and Altera
beat estimates. Overstock.com
missed estimates.
During the day, Microsoft , AOL
and Yahoo
rose on a joint effort to fight spam.
Cisco surged 4.5% on wireless IP phone plans, and Net2Phone
rose on its VoIP offering.
Apple climbed 3.8% on a new music downloading service.
Digital River soared 15% after winning an outsourcing deal from Palm
.
Chip stocks, meanwhile, climbed on strong March sales data. Intel climbed 2.6%.
Market Commentary: For our free daily market commentary and technical analysis, please visit the InternetStockReport.com home page at:
http://www.InternetStockReport.com.
