Stocks surged Friday on a tame consumer inflation report and comments by U.S. Secretary of Defense Donald Rumsfeld that U.S. troops are ready to invade Iraq.
The Nasdaq rose 17 to 1349, the S&P 500 gained 11 to 848, and the Dow rose 103 to 8018. Volume rose to 1.37 billion shares on the NYSE, but declined to 1.33 billion on the Nasdaq. Advancers led 22-9 on the NYSE, and 19-11 on the Nasdaq. Upside volume was 72% on the NYSE, and 66% on the Nasdaq. New highs-new lows were 60-60 on the NYSE, and 62-69 on the Nasdaq.
SBCfell once again on concern about a mixed FCC ruling, but fellow Baby Bells Verizonand BellSouthrebounded. Covadwas also hit hard on the FCC ruling.
Cisco, up 2.8%, may make an acquisition in the optical space, according to an IDC report.
Agilentsurged 6.8% after beating reduced estimates and announcing job cuts.
E*Traderose 6.4% after promising big changes.
NextLevelgained 7.5% after Motorolaextended its offer to March 4.
AOL, up 0.4%, began accepting front-page ads.
HP, up 1.7%, won an outsourcing deal.
Microsoft, up 1.9%, unveiled technology to secure corporate documents.
Intel, off 1.4%, continued to outline its plans for ubiquity.
IBM, up 1.2%, plans a high-powered server release soon.
Serenasurged 9% on its earnings report, but BEA, Portal Softwareand JD Edwardsfell on their reports.
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