Technology stocks burst back from their slump yesterday after Microsoft's better-than-expected profit report raised hopes that demand for computers will remain strong.
At the close of trading on Wall Street, the Dow Jones was up 187.43, or 1.8 per cent, at 10,392.36.
Advancing issues outnumbered decliners by a 7-to-6 margin on the New York Stock Exchange, with 1,638 up, 1,390 down and 512 unchanged. NYSE volume totalled 917.50 million shares as of 4 p.m., against 900.07 million in the previous session.
The Russell 2000 index of smaller companies rose 3.01 to 413.94.
The Nasdaq, which lists leading technology companies, benefited most directly from Microsoft's announcement late on Tuesday that profits jumped 30 per cent in its fiscal first quarter on strong demand for personal computers equipped with its Windows operating system.
