The Nasdaq rose for the fifth straight day on Thursday, extending the market’s best rally in six months and dragging sluggish blue chips along for the ride.
Despite reports showing economic growth slowing, tech stocks spent the whole day in the green, led higher by strong earnings from Salesforce.com and BEA Systems
and a DVD deal between Netflix
and Wal-Mart
.
The Nasdaq rose 11 to 2042, the S&P 500 climbed 5 to 1191, and the Dow rose 28 to 10,493. Volume declined to 1.78 billion shares on the NYSE, and 1.73 billion on the Nasdaq. Advancers led 20-12 on the NYSE, and 16-13 on the Nasdaq. Upside volume was 70% on the NYSE, and 72% on the Nasdaq. New highs-new lows were 106-28 on the NYSE, and 80-45 on the Nasdaq.
BT gained 5% on strong broadband sales.
Motorola climbed 2.5% on a stock buyback.
Intuit lost 1.7% on its results.
CDC Corp. , formerly known as China.com, tumbled 12% after posting a loss.
