Techs rise as investors
await earnings reports

---

By Lisa Singhania
Associated Press

NEW YORK >> Bargain hunting lifted stocks higher today, particularly in the beleaguered tech sector, but the market's overall tone was guarded as investors waited for first-quarter earnings reports to begin in earnest next week.

Analysts said Wall Street wanted to see proof that business was improving before making any big moves. Stocks have fallen in recent weeks on fears that the market has rallied prematurely and overestimated the strength of the recovery.

The Dow Jones industrial average rose 14.74 to 10,190.82 after falling 205 points yesterday. The Nasdaq composite index gained 30.95 to 1,756.19. The Standard & Poor's 500 index was up 7.32 at 1,111.01.

Advancers led decliners 2 to 1 on the New York Stock Exchange, with 2,078 up, 1,045 down and 209 unchanged. Volume was 1.25 billion shares vs. 1.51 billion yesterday.

The NYSE composite index rose 3.42 to 588.00, the American Stock Exchange composite index fell 2.43 to 900.86 and the Russell 2000 index rose 11.73 to 515.46.

For the week, the Dow and Nasdaq each lost 0.8 percent, while the S&P fell 1.0 percent.

The Treasury's 2-year note rose 18 to 100 1/2; its yield fell 7 basis points to 3.35 percent. The 10-year note gained 11/32 to 97 27/32; its yield lost 5 basis points to 5.16 percent. The 30-year bond rose 11/32 to 96 5/32; its yield fell 3 basis points to 5.65 percent.

In trading today, tech stocks recorded the biggest gains, in part because the sector has had such a terrible year. The Nasdaq is nearly 10 percent below its 2002 start; by contrast, the Dow has gained 1.7 percent and the S&P is down 3.2 percent.

IBM rose $1.51 to $85.60. The technology bellwether fell sharply during the previous sessions on rumors it was the target of a Securities and Exchange Commission investigation. The SEC later said it had opened and closed an inquiry into IBM without action.

Other tech stocks were higher, too, including Oracle, which gained 57 cents to $11.51.

Transportation stocks also advanced, helped by a drop in oil prices prompted by the forced resignation of Vene- zuela's president, who had restricted oil production to keep prices high. US Airways gained 42 cents to $6.50. Oil-related stocks fell, however, including ExxonMobil, which lost $1.10 to $41.30.

And General Electric, whose disappointing quarterly report yesterday triggered much of that session's selling, lost 20 cents to $33.55.