Stocks soared Friday after new home sales and durable orders both came in much stronger than expected, easing fears that the credit market crunch could send the economy into a tailspin.
Tech stocks were led higher by the likes of Apple , Intel
, EMC
and Oracle
.
Dell added 1.8% ahead of its earnings report next Thursday.
Sun , up 1.6%, said it plans to change its ticker symbol to “JAVA” next week.
Mentor Graphics and Brocade
rose on their earnings reports, while Marvell
and Sonic Solutions
fell on their results.
MetroPCS and Leap Wireless
gained on merger speculation.
The Nasdaq gained 35 to 2576, the S&P 500 rose 17 to 1479, and the Dow surged 143 to 13,378. Volume declined to 2.52 billion shares on the NYSE, and 1.66 billion on the Nasdaq. Advancing issues led by a 25-7 margin on the NYSE, and 20-9 on the Nasdaq. Upside volume was 84% on the NYSE, and 81% on the Nasdaq. New highs-new lows were 29-55 on the NYSE, and 58-71 on the Nasdaq.
