Techs Give Lift to Markets

Stocks post modest gains as some financials struggle
By Sam Gale Rosen,  Newser Staff
Posted Apr 23, 2008 3:38 PM CDT
Microsoft stocks also surged today.   (AP Photo/Marcus R. Donner)
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(Newser) – Stocks ended slightly up today on mixed news, as techs did well but many financials struggled. "Tech is one of the few bright spots across a sluggish earnings quarter," a market strategist tells the Wall Street Journal. The Dow ended up 42.99 to 12,763.22, the Nasdaq 28.27 to 2,405.21, and the S&P 4.04 to 1,379.98.

Boeing's strong first quarter sent the company's stocks up; Microsoft stocks also rose. Meanwhile, a big loss for Ambac Financial Group worried investors about turmoil in the credit market. "Stocks would probably be quite a bit stronger if it weren't for some reminders of financial problems—primarily Ambac," says a strategist.