Bargain-hunting rally lifts blue-chips late in session

Stocks rose on Thursday, pushing a partial recovery from last week's historic fall, with a late-session bargain-hunting rally…

Stocks rose on Thursday, pushing a partial recovery from last week's historic fall, with a late-session bargain-hunting rally lifting blue-chips and the broad market.

The Dow Jones industrial average rose 114.03 points, or 1.33 percent, to 8,681.42, according to the latest data, erasing an earlier loss of 1.1 percent. The Nasdaq composite index slipped 3.32 points, or 0.23 percent, to 1,460.72. The Standard & Poor's 500 index rose 11.57 points, or 1.15 percent, to 1,018.61.

Weighing on the Nasdaq, which fell more than 3 percent earlier in the session, was Wall Street house Goldman Sachs's lowering of earnings and revenue estimates for the semiconductor companies it covers as a result of the attacks.

The Philadelphia Stock Exchange semiconductor index tumbled more than 8.6 points, or 2.33 percent, to close at a low unseen since March 1999.

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Network equipment maker Sonus Networks sank $3.52, or 55 percent, to $2.88. The company warned it will post a quarterly loss on sales more than 25 percent below expectations.