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TECH STOCKS: A Good Day Before The Power Went Out

The major exchanges say they're prepared to open as scheduled on Friday, using backup power if necessary.
Upbeat economic news reassured investors Thursday that business is improving. But only minutes after stocks ended the day moderately higher, a giant power outage struck the Northeast. The power failure, blacking out cities from New York to Cleveland, Detroit, and Toronto, sent stock exchanges scrambling to switch to backup generators. The major exchanges said they were prepared to open as scheduled on Friday, using backup power if necessary.

The Dow ended the day at 9,310.56, a gain of 38.80 points, and is near its summer high of 9,323.02, the level at which it closed on June 17. The broader market also was higher. The Nasdaq composite index rose 13.73 points, or 0.8%, to 1,700.34. The Nasdaq-100 rose 3 cents, or 0.1%, to $30.90. The Standard & Poor's 500 index rose 6.48 points, or 0.7%, to 990.51. The InformationWeek 100 index rose 0.74 points, or 0.29%, to 252.64.

The Nasdaq is trading near its summer high of 1,754.82, reached on July 14. And the S&P 500 was within reach of its summer high of 1,011.66, where it finished on June 17.

Texas Instruments rose 73 cents, to $20.05, after SoundView Technology raised its rating on the chipmaker to outperform from neutral.