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The Nasdaq Ends Trading Monday Above 2,000

But it was odd to see stock traders buying so strongly based at least partly on the direction of--of all things--volatile oil prices.
Traders appeared eager to buy Monday, as all of our indexes rose by no less than 1.5%. Certainly many were buying on the news Friday that 248,000 jobs were created in May, but pundits also pointed to oil trading at less than $40 a barrel. It's odd to see stock traders buying so strongly based at least partly on the direction of--of all things--volatile oil prices.

Of course, the rise could also have been euphoria on the part of traders knowing they get an unexpected three-day weekend when markets close Friday to mark the death of former President Reagan.

Our InformationWeek 100 index rose 2.3%, or 7.21 points, to 324.25; the Nasdaq Composite rose 2.1%, or 42 points, to 2,020.62. The S&P 500 rose 1.6%, or 17.92 points, to rest at 1,140.42. Bringing up the rear was the Dow, which rose 1.5%, or 148.26, to 10,391.08.

The Nasdaq-100 tracking stock rose 2.4%, or 86 cents, to 37.05. Volume of the stock, which we use as another gauge of the depth of sentiment toward technology shares, was above average, at 108 million shares.

See the full listing of all the companies in the InformationWeek 100 and the top 5 percentage winners and losers for the last closing at informationweek.com/stocks.

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Brian T. Horowitz, Contributing Reporter
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