Aug 28, 2003 (01:08 PM EDT)
TECH STOCKS: The Nasdaq Crosses 1,800
Read the Original Article at InformationWeek
Buoyed by signs of continued economic growth, tech stocks neared or exceeded record highs for the year Thursday.
The Nasdaq index rose 18.05 points to 1,800.18, its highest level this year and a gain of 1% over yesterday. Our InformationWeek 100 rose 1.3%, closing up 3.58 points, to 277.36.
These gains were fueled partly by a Commerce Department report that the economy grew at an annual rate of 3.1% during the second quarter, stronger than previously expected. Technology bellwethers Advanced Micro Devices and Intel also helped the sector. Their stocks rose 6.6% and 1%, respectively, to $10.92 and $28.30. The Nasdaq-100 tracking stock rose 28 cents, or .9%, to $33.08, not far off its 52-week high of $33.37.
By comparison, blue-chip investors seem to be gearing down for the Labor Day weekend. The Dow Jones rose 40.42 points, or 0.4%, to 9,374.21, while the S&P 500 rose 6.05 points, or 0.6%, to 1,002.84.