Stocks added to their recent gains Tuesday despite comments by the Federal Reserve that the economic outlook remains cloudy, as traders hoped that a quick victory in Iraq will improve that outlook.
The Nasdaq climbed 8 to 1400, the S&P 500 added 3 to 866, and the Dow rose 52 to 8194. Volume declined to 1.55 billion shares on the NYSE, and 1.61 billion on the Nasdaq. Advancers led 17-14 on the NYSE, and 17-14 on the Nasdaq. Upside volume was 68% on the NYSE, and 69% on the Nasdaq. New highs-new lows were 49-33 on the NYSE, and 68-54 on the Nasdaq.
After the close, Oraclefell 6% after coming in light on license revenues and offering a wide range of guidance. Microchiplost more than 10% on a warning.
During the day, Applied Materialsgained 3.1% despite announcing 14% layoffs.
Investors were apparently in a forgiving mood, as Gatewaywas unchanged after warning and announcing layoffs, and Tech Datagained 5.5% on a warning.
Intersiland Proximgained more than 4% each after resolving a patent dispute.
FindWhat.comrose 1.6% after releasing a new ROI tool.
EDSrose fractionally despite another contract problem.
Dell, off 0.4%, won a big HMO contract.
Microsoft, up 0.5%, released management software. Microsoft is also making headway into the CRM market.
Chinadotcomgained 2.7% on an acquisition.
Apple, off 0.1%, is targeting the server market.
IBM, up 1 cent, plans to bring WiFi to truck stops.
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