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Dow up 135;
Nasdaq soars 178

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Associated Press

NEW YORK -- Bargain-hunting investors boosted tech stocks today to one of their best performances this month in a spending spree that quickly spilled over to blue chips.

The gains sent the tech-focused Nasdaq composite index up 5.6 percent. The Dow Jones industrial average, which has climbed 580 points since Friday, failed to breach 11,000 but closed up 1.25 percent. The Nasdaq shot up 178.23 to close at 3,369.63. The Standard & Poor's 500 index rise 30.74 to 1,429.40. The Dow closed up 135.37 at 10,971.14, after spending early trading in negative territory following a mixed earnings report from consumer products maker Procter & Gamble.

Advancers beat decliners by a 2-to-1 ratio with 2,053 up, 886 down and 415 unchanged on the New York Stock Exchange, where volume came to 1.4 billion shares, up from yesterday's 1.16 billion. The NYSE composite index rose 11.49 to 666.02; the American Stock Exchange composite index gained 7.14 to to 909.30; and the Russell 2000 index rose 14.96 to 497.68.

The 10-year Treasury note's price fell 4/32 point, or $1.25 per $1,000 in face value; its yield rose to 5.75 percent from 5.73 percent late yesterday. The 30-year bonds fell 12/32 point and yielded 5.78 percent, up from 5.75 yesterday.

After a month of earnings reports that spooked the market, investors flocked to technology stocks, many of which are trading at their lowest levels since spring, in a broad-based rally.