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As a result of the dollar's rebound, technology and Internet stocks made a leap in early trading.
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The Nasdaq composite index, rich in rebounding technology stocks, has risen 36percentt in that time, while the Standard & Poor's 500-stock index has gained 19percentt.
Motorola, EMC and Sun Microsystems, three former Wall Street favorites struggling to rebound from the technology recession that began in 2000, yesterday reported mostly encouraging results for the quarter.
[C7.] Encouraging Technology Results Motorola, EMC and Sun Microsystems, three former Wall Street favorites struggling to rebound from the technology recession that began in 2000, reported mostly encouraging results for the quarter.
For the most part, the rebound in technology stocks was from very low levels.
The Nasdaq, reflecting the rebound of technology stocks during the quarter, rose 2.7percentt, after slipping slightly in the first quarter.
European stockmarkets were lifted this week by a rebound in technology and telecoms shares after Italy's auction of third-generation wireless licences.
But those results were fueled by a rebound in technology spending at corporations, many of which held off replacing older computers during the recession.
But one sign that the foundation may be a little more secure is the rebound in technology, which has been leading the comeback.
But the computer giant urged Wall Street to interpret the report as an indication of its strength, not a general rebound in technology spending.
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