Dow up 100.39
as techs surge

NEW YORK -- A reinvigorated technology group led another broad stock advance today, erasing the remnants of a worrisome new year's slide and pushing some measures toward record terrain.

The Dow Jones industrial average rose 100.39 to 7,915.47, up 7.22 for the year.

Broader indicators also posted sizable gains for the second straight day after a four-session slump, with the Standard & Poor's 500 also moving back into positive territory for 1998 and the technology-heavy Nasdaq composite index rising above 1,600 for the first time since Dec. 10.

The Dow and S&P 500 have now rebounded from losses of more than 4 percent in January, a month that has repeatedly proven to be a reliable indicator of the market's fortunes for the year.

Advancers issues outnumbered decliners by nearly a 2-to-1 margin on the New York Stock Exchange, with 1,917 up, 1,048 down and 491 unchanged. NYSE volume totaled 706.80 million shares vs. 677.92 million yesterday.

The Standard & Poor's 500-stock list rose 8.44 to 977.46, up about 7 points for the year and about 6 points shy of its Dec. 5 record finish of 983.79.

The NYSE composite index rose 4.02 to 509.22, about 2 points from its 1998 starting point and 5 points from record territory.

The Nasdaq composite index rose 31.91, or 2 percent, to 1,610.81, led again by technology bellwethers Microsoft, Intel and Cisco Systems. The small-company dominated American Stock Exchange composite index rose just 0.96 to 667.55.