TECH STOCKS: The Rally Resumes - InformationWeek
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6/10/2003
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TECH STOCKS: The Rally Resumes

After a one-day decline, the stock markets resumed their upward climb on Tuesday.

Wall Street resumed its rally on Tuesday following Monday's minor setback.

Our InformationWeek 100 index of tech stocks rose 4.48 points, or 1.8%, to 252.51. The broader Nasdaq index also rose, closing at $30.11, up 1.3%, or 38 cents. Volume for the day was 66,132,900, somewhat lower than the index's average daily volume.

The Dow Jones industrials rose 74.89, or 0.8%, to 9054.89, while the Nasdaq rose 1.5%, or 23.70, to close at 1,627.67. The S&P 500 rose 8.91, or 0.9%, to end at 984.84.

At the end of Tuesday's trading, the Dow had gained 20.3% from March 11, when the rallies began, while the Nasdaq had climbed 28% and the S&P had advanced 23%.

Some analysts say that while the market's fundamentals are improving, it's still hard to explain the gains other than to say that stocks are moving on their own upward momentum.

"I have just sort of said, 'OK, the market is overbought, but so what,' " Richard A. Dickson, a senior market strategist at Lowry's Research Reports in Palm Beach, Fla., told The Associated Press.

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