Tech Leads the Rally: Reason to Give Thanks, Or Dead-Turkey Bounce?

Well, now you have a reason to give thanks.

The Nasdaq Composite today extended its winning streak to four sessions, with a rally of 67.37 points, or 4.6%, to 1,532.10. That lifted the four-day advance to nearly 216 points, or 16.4%. The Dow Jones Industrials over the same span are up 15.5%. Following up on yesterday’s news that the Fed is injecting $600 billion into Fannie Mae, Freddie Mac and other lenders to push down mortgage rates, the market today gained confidence that a bailout is on the way for Ford (F) and General Motors (GM). The economy is still crummy - consumer spending fell 1% in October, the worst month in seven years - but suddenly the Street seems to think it won’t be quite as crummy as previously feared. Or maybe it’s a dead-turkey bounce. In any case, you can now afford an extra slice of pie.

Here’s a look at the top 10 most actively traded tech stocks on the Nasdaq on Wednesday:

• Microsoft (MSFT) rose 50 cents, or 2.5%, to $20.49.
• Intel (INTC) rose 84 cents, or 6.4%, to $13.97.
• Cisco (CSCO) rose 97 cents, or 6.3%, to $16.39.
• Oracle (ORCL) rose 16 cents, or 1%, to $16.14.
• Apple (AAPL) rose $4.20, or 4.6%, to $95.
• Research In Motion (RIMM) rose $3.20, or 7.7%, to $44.70.
• Applied Materials (AMAT) rose $1.02, or 11.7%, to $9.73.
• Dell (DELL) rose 63 cents, or 6.1%, to $11.05.
• Comcast (CMCSA) rose 95 cents, or 6.1%, to $16.65.
• Qualcomm (QCOM) rose 76 cents, or 2.3%, to $33.45.

Comments

[drone:]

I'm holding off buying a new laptop until they get rid of Vista. That can't be good for Dell or Microsoft.

2008 Nov 27 12:52 PM

[nycDem:]

Why don't you just buy a Mac instead? Windows really sucks...


On Nov 27 12:52 PM Terry Huebert wrote:

> I'm holding off buying a new laptop until they get rid of Vista.
> That can't be good for Dell or Microsoft.

2008 Nov 27 06:07 PM

[jnesbitt:]

dead turkey bounce

2008 Dec 04 02:25 PM