NEW YORK -- Leading stock measures rose sharply today as big-name technology stocks rallied for a second day and energy shares rose amid hopes for a rebound in oil prices. Dow surges 117
as techs rally
The Dow Jones industrial average rose 117.33, or 1.35 percent, to close at 8,828.46. Broader indexes also posted big gains, with the technology-heavy Nasdaq composite rising 2.15 percent.
Advancers led decliners by a 3-to-2 margin on the New York Stock Exchange, with 1,827 up, 1,207 down and 51 unchanged. NYSE volume was 632.54 million shares, up sharply from yesterday's modest tally of 527.71 million.
The Standard & Poor's 500 rose 16.27 to 1,119.49. The Nasdaq composite gained 38.75 to 1,844.57, the third biggest point gain ever. The NYSE composite index climbed 6.75 to 571.63, and the American Stock Exchange composite index rose 4.61 to 698.60. The Russell 2000 index of smaller companies gained 5.77 to 447.42.
U.S. bonds rose for the third time in four days as the dollar gained amid speculation that Asia's economic and financial troubles will persist. The benchmark 30-year Treasury bond rose 13/32, or $4.06 per $1,000 bond, pushing its yield down 3 basis points to 5.64 percent. The dollar climbed to 139.15 yen in late New York trading from 138.16 yesterday.
IBM rose sharply as the Dow's strongest component for a second straight day. Hewlett-Packard Co., the Dow's other technology issue, also posted a sizable gain.
Tokyo's Nikkei stock average fell 1.7 percent, while major European bourses gained 1 percent.