TECH STOCKS: Markets Shake Off Monday's Blues - InformationWeek
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9/16/2003
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TECH STOCKS: Markets Shake Off Monday's Blues

Stocks perked up after the Fed said it plans to leave interest rates unchanged for some time.

The stock markets' gains increased Tuesday after the Federal Reserve Board said it would keep interest rates low for some time.

"The fact is that the economy is tending to show a pattern of improvement, rather than deterioration," Kevin Caron, a market strategist at Ryan, Beck & Co., told The Associated Press.

It was a good day for our InformationWeek 100 index, which shot up 3.1%, or 8.65 points, to 289.80. The rest of the indexes we track daily recovered from Monday's minor losses, and then some. The Nasdaq Composite enjoyed the biggest gains, rising 41.56 points, or 2.3%, to 1,887.26. The S&P 500 increased 14.41 points, or 1.4%, to 1,029.32. The Dow industrials rose 118.53 points, or 1.3%, to close at 9,567.34.

The Nasdaq-100 tracking stock rose 91 cents, or 2.7%, to $34.40, as a slightly higher-than-average volume of 79 million shares changed hands.

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