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NEW YORK -- Stock prices rose for a second straight day today as bargain-hunting investors extended a broad rally in technology stocks. After spending the early part of the session in negative territory, the Dow Jones industrial average recovered to close up 83.61 at 10,226.59. The Nasdaq composite index rose 64.54 to 3,483.14. The Standard and Poor's 500 index was up 8.17 at 1,396.93. Dow jumps 84
Associated Press
Advancers outnumbered decliners by a ratio of 4 to 3 on the New York Stock Exchange, with 1,588 up, 1,228 down and 490 unchanged. Volume was 1.17 billion shares vs. 1.29 billion yesterday. The NYSE composite index rose 3.51 to 642.17, the American Stock Exchange composite index gained 9.80 to 913.44 and the Russell 2000 index was up 6.15 at 487.45. The Treasury's 10-year note rose 5/32 to 1007/8; its yield fell 2 basis points to 5.63 percent. The 30-year bond rose 11/32 to 107 14/32; its yield fell 2 basis points to 5.73 percent.
Tech issues continued their upward trek, lifting the Nasdaq. Microsoft traded up $3.31 at $65.19, extending a nearly 20 percent gain from the previous session. Chip maker Intel, another bellwether issue, was also up again, rising $1.13 to $43.06. And Internet stocks were up, led by eBay, which reported strong third-quarter earnings late yesterday After rising more than $5 earlier in the session, the online auction company ended up 88 cents at $58.06.
Internet parts and services companies were also up. Fiber optics company JDS Uniphase jumped $12.44 to $102.38, Ciena climbed $9.61 to $149.50 and America Online gained $1.11 to $46.55.