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Buying on early reports, if not on rumors, investors pushed our indexes much higher Monday. According to published reports, the ratio between earnings warnings and positive revisions is unusually lopsided in favor of higher earnings. It will be interesting if investors sell on news of the happy corporate coffers.
Our InformationWeek 100 index led the way, rising 1.9%, or 6.01 points, to 326.81, and the Nasdaq Composite came in a close second. It closed up 1.7%, having risen 32.55 points, to 1,992.57. The S&P 500 rose 1.3%, or 14.4 points, to 1,122.46. The Dow rose 1.1%, or 116.66 points, to 10,329.63.
Trading of the Nasdaq-100 tracking stock was off a bit, with 90 million shares changing hands, but it, too, rose. It closed up 1.4%, or 49.4 cents, to $35.414.