Dow soars with Apple, Microsoft among double-digit gainers
The beleaguered Dow Jones Industrial Index surged back up above 9,000 in its largest single-day point gain ever Monday, while Apple, Microsoft, Dell, and other tech companies captured double-digit gains.
After taking investors on a hellacious ride last week, Wall Street didn't disappoint expectations of a better week with the Dow soaring 936.42 points to close at 9,9387.61, after suffering eight consecutive days of losses from its previous post of 10,850.66 on September 30.
Investors apparently were pleased with several new developments including the central banks agreeing to pump more funds into U.S. financial institutions and the U.S. Treasury agreeing to buy some bank stocks, as noted in posting on CBSNews.com.
The Nasdaq, which posted gains for the last couple of days, climbed 194.74 points to close at 1,844.25, in part fueled by double-digit gains from Microsoft, Apple, Oracle, Cisco, Dell, and Research in Motion. All these stocks were among the most actively traded on Nasdaq.
Microsoft climbed 18.6 percent to end the day at $25.50 a share, while computer makers Dell rose nearly 14.5 percent to $15.21 a share and Apple jumped approximately 13.5 percent to close at $110.26 a share.
Likely helping to push Apple's stock upwards is the company's plan to debut new notebook versions on Tuesday.
Other tech companies to keep an eye on this week are Intel and eBay, which are reporting earnings on Tuesday and Wednesday, respectively.
Oracle posted a 13 percent gain to close the regular trading session at $18.86 a share, while Cisco Systems ended the day up 11.8 percent to close at $19.27 a share. Research in Motion, maker of the popular BlackBerry smartphone, soared 15.5 percent to close at $63.87.
The CNET Tech Index, meanwhile, climbed as high as 139.10 points to close at 1,267.83 on Monday.
Dawn Kawamoto covers enterprise security and financial news relating to technology for CNET News. E-mail Dawn. 
Obambi has been using the the crisis on Wall Street to a lead in the polls.
Look for his lead to diappear as Wall Street rides to record gains this wek, starting with the biggest one day increases in the Nasdaq, the Dow and the S & P today.
@ time of writing, it was up by 12.some-odd% and climbing... ;)
Believe it or not, the universe does not center on Apple regardless of what Apple fans may think.
And, It's time to get "THE CONCORDE" commercially back in the air again. - The m-a-g-i-c word - J-O-B-S!
But people who have actually made there money in the stock markets, like Bill Gates, have been saying all along that it will be coming back up shortly, stuff like this has happened before (but the media had the sense not to make such a big fuss over nothing back then).
It must be the coming election that is clouding everybody's thinking...
I mean, come on! look at NYTime's home page, they are still running stories about how the 700 billion dollar bail out might just be able to stop this impending economic crisis... Talk about a big waste of money...
- by jandler October 14, 2008 8:45 AM PDT
- Just because the market soars on one day, it doesn't mean we are out of the woods. Remember how the markets tank for 5 days in a row? Did everyone that lost their jobs got them back already? How about everyone that lots their homes? Is business back to what it used to be? Does people who invested got their money back or it is still at a level where it was in 2002-2003?
- Like this Reply to this comment
-
-
- by Commander_Spock October 14, 2008 10:01 AM PDT
- Should this; re "[....Two of the most gifted and talented figures in economy said the plan was needed. If you don't know who they are, don't bother talking...]" not be "[....Two of the most gifted and talented figures in (engineering) economy said the plan was needed. If you don't know who they are, don't bother talking....]
- Like this
-
- by jandler October 15, 2008 7:41 AM PDT
- @commander_spock
- Like this
-
(13 Comments)People argue that 700 billions plan is not needed blah blah blah blah. How many of you are true econo expert? If the plan doesn't pass and the economy get worst, people will blame the goverment for doing nothing. If the plan pass and the economy get better, people blame the goverment for wasting money. Two of the most gifted and talented figures in economy said the plan was needed. If you don't know who they are, don't bother talking.
Besides, what informs your judgment that it is not (BEN) like in AL -"the Computer" the 800lb Gorilla in the room!
general economy include engineering (if the terms even exists) economy. if you think engineering economy exists in its dimension by itself then you are really really really dumb. You don't need to be Buffet or Greenspan to understand that. The src of all this trouble is the mortgage crisis, causing a cascade effect, etc etc etc which affect just about every comp there is. Most of these tech comp exists because they provide services or products to other companies, many of them financial institution. You can connect the dots from this. If you can't, don't bother talking.