The Nasdaq index rose 18.05 points to 1,800.18, its highest level this year and a gain of 1% over yesterday. Our InformationWeek 100 rose 1.3%, closing up 3.58 points, to 277.36.
These gains were fueled partly by a Commerce Department report that the economy grew at an annual rate of 3.1% during the second quarter, stronger than previously expected. Technology bellwethers Advanced Micro Devices and Intel also helped the sector. Their stocks rose 6.6% and 1%, respectively, to $10.92 and $28.30. The Nasdaq-100 tracking stock rose 28 cents, or .9%, to $33.08, not far off its 52-week high of $33.37.
By comparison, blue-chip investors seem to be gearing down for the Labor Day weekend. The Dow Jones rose 40.42 points, or 0.4%, to 9,374.21, while the S&P 500 rose 6.05 points, or 0.6%, to 1,002.84.