The beleaguered Dow Jones Industrial Index surged back up above 9,000 in its largest single-day point gain ever Monday in the US, with Apple, Microsoft, Dell, and other tech companies capturing double-digit gains.
(Credit: Yahoo Finance)
After taking investors on a hellacious ride last week, Wall Street didn't disappoint expectations of a better week with the Dow soaring 936.42 points to close at 9,9387.61, after suffering eight consecutive days of losses from its previous post of 10,850.66 on September 30.
Investors apparently were pleased with several new developments including the central banks agreeing to pump more funds into US financial institutions and the US Treasury agreeing to buy some bank stocks.
The Nasdaq, which posted gains for the last couple of days, climbed 194.74 points to close at 1,844.25, in part fueled by double-digit gains from Microsoft, Apple, Oracle, Cisco, Dell, and Research in Motion. All these stocks were among the most actively traded on Nasdaq.
Microsoft climbed 18.6 per cent to end the day at US$25.50 a share, while computer maker Dell rose nearly 14.5 per cent to US$15.21 a share and Apple jumped approximately 13.5 per cent to close at US$110.26 a share.
Likely helping to push Apple's stock upwards was the company's plan to debut new notebook versions this week.
Other tech companies to keep an eye on this week are Intel and eBay, which are reporting earnings on Tuesday and Wednesday, respectively.
Oracle posted a 13 percent gain to close the regular trading session at US$18.86 a share, while Cisco Systems ended the day up 11.8 percent to close at US$19.27 a share. Research in Motion, maker of the popular BlackBerry smartphone, soared 15.5 percent to close at US$63.87.
The CNET Tech Index, meanwhile, climbed as high as 139.10 points to close at 1,267.83 on Monday in the US.
