Technology Stocks Drive Market Indexes Higher Amid Good Earnings News

Technology stocks led the market's advance, with strong earnings reports from Hewlett-Packard and other high-tech companies drawing investors back into the sector. The Dow Jones industrial average rose 1.4% on the day, more than enough to push the index above 11,000 for the first time since September 13. The Nasdaq composite index also reached a new record high, its 13th such close in the past three weeks.

Key Takeaways:

• Hewlett-Packard's strong earnings report contributed significantly to the Dow Jones industrial average's 1.4% gain, pushing the index above 11,000 for the first time since September 13.
• The Nasdaq composite index reached its 13th record close in three weeks, with a gain of 2.38% on the day.
• Technology stocks drove the market's advance, with investors lured back into the sector by good earnings news.
• Deputy Attorney General Eric Holder warned about Y2K scams, with telemarketers posing as employees of banks, credit card companies, or the Internal Revenue Service seeking sensitive account information.
• Microsoft judge, U.S. District Judge Thomas Penfield Jackson, will hear more courtroom arguments in the antitrust trial before making a final verdict.
• The case could be decided as early as February, with written filings due next month and in January.

Statistics:

• 1.4%: the Dow Jones industrial average's gain on the day
• 2.38%: the Nasdaq composite index's gain on the day
• 13: the number of record closes for the Nasdaq composite index in the past three weeks
• 11,000: the Dow Jones industrial average's new milestone, first reached since September 13
• 3: the number of weeks since the Nasdaq composite index began generating record highs

Sources:

• Dow Jones News Service
• Associated Press
• www.usdoj.gov (Justice Department's website)
• Associated Press