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May 16, 2008 7:28:07 AM CDT

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Stocks Rally; Dow Up Almost 200  

Posted May 1, 08 3:24 PM CDT in Business    Most Covered

(newser) – Stocks rallied today on strong performances by several big tech firms, MarketWatch reports. Investors also poured money into financials in anticipation of the dollar boost the Fed will cause by holding interest rates steady after yesterday’s cut. The Dow climbed 189.87 to at 13,010.00, the Nasdaq rose 67.91 to 2,480.71, and the S&P 500 jumped 23.72 to 2,480.71.

The rally seemed unaffected by news of a jump in first-time jobless claims and an overall drop in manufacturing activity. Exxon’s worse-than-expected performance also seemed not to bother investors, apparently heartened by good news from Intel, Sandisk, and especially Symantec, which reported first-quarter earnings of  $186.4 million in Q1, triple the figure from a year ago.

Sources: MarketWatch, Wall Street Journal, Bloomberg

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Stocks Rally; Dow Up Almost 200
John Thompson, Symantec's CEO, gives the keynote address at a computer security conference.   (AP Photo)
Stocks Rally; Dow Up Almost 200
Traders and Specialists look at a monitor on the trading floor at the New York Stock Exchange in this undated file photo.   (AP Photo/David Karp)
Stocks Rally; Dow Up Almost 200
In this April 3, 2008 file photo, Federal Reserve Chairman Ben Bernanke testifies on Capitol Hill in Washington.   (AP Photo)
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Federal Reserve  • S&P 500  • Nasdaq  • Ben Bernanke  • Dow Jones Industrial Average  • Intel  • interest rate cut  • Exxon  • Symantec


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