Stocks started Wednesday morning off with a tech rally led by technical innovator Intel Corporation
From Steve Schaefer, Forbes:
Wall Street enjoyed a tech-led rally Wednesday morning, after a closely-watched chipmaker issued solid results and rosy guidance Tuesday..
Investors were cheering the second-quarter report from Intel ( INTC - news - people ), which showed a narrower than expected decline in profits from 2008. Chief Executive Paul Otellini said the results reflect improving conditions in the PC market and point toward a stronger second half, boosting confidence in the space a day after computer maker Dell ( DELL - news - people ) said demand was stabilizing but warned of slimmer profit margins. Shares of Intel were up 6.7% in early trading; Dell gained 1.8%. (See "Intel Could Boost Tech Shares.")
The tech boost lifted the Nasdaq 29 points, or 1.6%, to 1,829. The Dow Jones industrial average was up 100 points, or 1.2%, to 8,460 shortly after the open, while the Standard & Poor's 500 gained 10 points, or 1.1%, to 916.
