The InformationWeek 100 and Nasdaq indexes rolled to more gains, but broader indexes gave back some of their recent advances.
It was a mixed day on Wall Street as surging tech stocks pushed up the InformationWeek 100 and Nasdaq indexes--the Nasdaq closed at its highest level in nearly a year on very heavy trading--but the Dow and S&P 500 indexes lost some of the ground they had gained during the last five sessions.
Semiconductor and hardware stocks were among Thursday's biggest gainers. Intel's share price rose $1.09, or 5.5%, to $20.83, and Cisco Systems' price rose 34 cents, or 2.1%, to $16.62. Advanced Micro Devices and National Semiconductor also posted gains, and Qwest Communications rose 4.9% following a positive earnings report.
Good economic news from the Commerce Department that gross domestic product grew 1.9% in the first quarter, revised upward from earlier estimates of 1.6%, and positive news on the employment front appeared to have little impact on trading.
The InformationWeek 100 rose 1.92 points, or 0.8%, to close at 241.39. The Nasdaq-100 Index tracking stock rose 12 cents, or 0.4%, to $29.31. Trading volume was heavy, with 97 million shares changing hands. The Nasdaq index rose 11.71 points, or 0.8%, to 1,574.95, its highest close since early last June. But the Dow industrials fell 81.94 points, or 0.9%, to 8,711.18, while the S&P 500 fell 3.58 points, or 0.4%, to finish the day at 949.64.
5 Top Federal Initiatives For 2015As InformationWeek Government readers were busy firming up their fiscal year 2015 budgets, we asked them to rate more than 30 IT initiatives in terms of importance and current leadership focus. No surprise, among more than 30 options, security is No. 1. After that, things get less predictable.