“Technology stocks put in early gains Tuesday as the sector rose along with the broad market following the Federal Reserve’s latest efforts to stimulate the economy,” Rex Crum reports for MarketWatch.
“Before the market opened, the Fed said it would extend its securities lending program and lend up to $200 billion worth of Treasury securities to secured deals for 28 days instead of overnight,” Crum reports.
“Following the Fed’s move, the tech-heavy Nasdaq Composite Index rose 42 points, or 2%, to 2,211. The Morgan Stanley High Tech 35 Index and the Philadelphia Semiconductor Index each rose as much as 2%,” Crum reports.
“Notable gains came from Apple Inc. which rose $3.92, or more than 3%, to $123.61.
Full article here.
I enjoy broad gains, but the loses are always a bitch….
No, it’s because they updated the fan on the Macbook Air.
Dammit, that means the Ultra-Short Funds are going to be down this afternoon.
Ampar, no shorts-down puns, please. This is serious.
It won’t last. This is just short covering and the market will give back most of the gains by the close today I predict.
And the US$ rose 1 cent verso swiss franc today… 97 US cents for 1 Sfr.
To Sum Jung Gai: O.K. It seams like a waist but no off the cuff remarks.
The central banks of Canada, the UK, Switzerland, and the European Central Bank were also in on this maneuver. Just tryin’ to help you Yanks out.
Between TT and Ampar, I gotta go change my underwear……
Buster
sounds like you had some short gains….
Butt don’t worry, this two must pass.
Only $80 a share more to go!!!
The slowing economy still spells bad news for Apple: iPod sales are down, Macbook Air isn’t getting traction despite the positive spin put on by MDN, and iPhone has 1% of total handset market.
Magic Word: problem – how appropriate
joey, you ignorant slut.
You are such a poet, C1.
Yea, verily.
I made a cool $3,500 on that Fed move this morning.
Gotta love FOREX.