Retail Sales, War Fears Hold Back Stocks

Tech stocks posted strong gains on Monday, but blue chips were held back by weak retail sales and war fears.

Note: The Market Close will return on January 2. Happy Holidays.

The Nasdaq rose 18 to 1381, the S&P 500 added 1 to 897, and the Dow slipped 18 to 8493. Volume fell to 1.1 billion shares on the NYSE, and 1.2 billion on the Nasdaq. Advancers led 17 to 15 on the NYSE, and 18 to 14 on the Nasdaq. Upside volume was 48% on the NYSE, and 73% on the Nasdaq. New highs-new lows were 68-47 on the NYSE, and 65-60 on the Nasdaq.

After the close, Sun rose on a judge’s ruling that Microsoft must carry Java in Windows. The ruling was expected.

During the day, Inktomi soared 37% on news that it will be acquired by Yahoo .

Microsoft rose 1.8% despite a court appeal from settlement opponents.

XM Satellite Radio gained 6% after securing financing.

Cypress Semi gained 5.7% on a better than expected warning.

J2 Global surged 17% after raising guidance. gained 2.5% on positive comments by former Merrill Lynch Internet analyst Jonathan Cohen.

InfoSpace slipped 2% on news of a shakeup at the top.

Sony , off 0.5%, shipped terabyte tape drives.

Palm lost 3.6% despite a deal with Sprint and Samsung.

Penny stock PacificNet soared 185% on news of a venture in China.

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