Takeover news and a production report from the Fed pushed shares higher.
Stocks continued their climb Tuesday. Helping matters was news that Cingular had won its $41 billion bid for AT&T Wireless. Also, Disney said it had rejected Comcast's hostile-takeover but also said it would listen to other offers. Then there was the Federal Reserve report that production in factories, utilities, and mines rose 0.8% in January.
Our markets ended up Tuesday. Our InformationWeek 100 index enjoyed the highest percentage gain, up 4.61 points, or 1.4%, to 339.22. The Nasdaq followed close behind, rising 26.79 points, or 1.3%, to close at 2,080.35. The Dow rose 87.03 points, or 0.8%, to end at 10,714.88. And the S&P 500 rose 11.18 points, or 0.98%, to 1,156.99.
The Nasdaq-100 tracking stock closed at $37.44, up 50 cents, or 1.4% for the day, on moderate volume of 68 million shares.
IT's Reputation: What the Data SaysInformationWeek's IT Perception Survey seeks to quantify how IT thinks it's doing versus how the business really views IT's performance in delivering services - and, more important, powering innovation. Our results suggest IT leaders should worry less about whether they're getting enough resources and more about the relationships they have with business unit peers.
What The Business Really Thinks Of IT: 3 Hard TruthsThey say perception is reality. If so, many in-house IT departments have reason to worry. InformationWeek's IT Perception Survey seeks to quantify how IT thinks it's doing versus how the business views IT's performance in delivering services - and, more important, powering innovation. The news isn't great.