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December 3, 2008 1:33:59 AM CST

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Stocks Rally; Dow Up Almost 200

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

(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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John Thompson, Symantec's CEO, gives the keynote address at a computer security conference.   (AP Photo)
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)
In this April 3, 2008 file photo, Federal Reserve Chairman Ben Bernanke testifies on Capitol Hill in Washington.   (AP Photo)
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Dow Jones • S&P 500 • Federal Reserve • Nasdaq • Ben Bernanke • Intel • interest rate cut • Exxon • Symantec


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