December starts out strong for tech stocks

Parallels Desktop 6 for Mac “Tech stocks added to their gains in afternoon trading Wednesday, starting December on a strong note as most sector leaders joined in a broad-market rally fueled by positive reaction to the latest U.S. jobs data and other economic reports from around the world,” Rex Crum reports for MarketWatch.

“The Nasdaq Composite Index (COMP 2,553, +54.86, +2.20%) climbed 57 points, or more than 2%, to 2,554. The Philadelphia Semiconductor Index (SOX 402.60, +12.48, +3.20%) rose more than 3% and the Morgan Stanley High Tech 35 Index (MSH 643.82, +16.02, +2.55%) added 2.6%,” Crum reports. “Gains were helped by the ADP employment report, which showed that private-sector jobs in the U.S. rose by 93,000 in November, the biggest advance in three years.”

Crum reports, “Among leading tech stocks, Apple Inc. (AAPL 317.15, +6.00, +1.93%), Cisco Systems Inc. (CSCO 19.34, +0.18, +0.95%), Intel Corp. (INTC 21.56, +0.40, +1.90%), Microsoft Corp. (MSFT 26.15, +0.89, +3.53%), and Dell Inc. (DELL 13.51, +0.29, +2.21%) all posted gains.”

Read more in the full article here.

18 Comments

  1. Business is finally beginning to see the light at the end of the tunnel.

    Make the Bush tax cuts permanent for all! END THE CLASS WARFARE, OBAMA! You and your ilk lost big time.

    Can’t wait until November 6, 2012!

    January 20, 2013 will also be day of major partying!!!

  2. Just how are you planning to *pay* for those tax cuts? After all, in order to reduce the deficit, reductions in revenue must be balanced by reductions in spending. History has shown that tax cut and spend is the worst of both worlds. Mathematics can prove that cutting taxes does not necessarily increase tax revenue, as you can show in the extreme limit case as the tax rate approaches zero. There is an optimum that balances current revenue with economic growth.

    Ahhh, I understand. By calling the tax cuts the status quo and referring to the expiration of those tax cuts as a tax increase, you seek to hide illogic with a euphemism. If you really want to make a difference, folks, then stop trying to make the solution sound better than free and actually take responsibility for making the difficult decisions. You might also stop to consider that the U.S. spends far too much on the military. It is unsustainable. Period.

  3. @ seriously MDN:

    While I agree that MDN isn’t the place for political discussion, your comment about Ronald Reagan is misguided, ill placed, and downright incorrect. Stop listening to the left wing spin machine and use some common sense. The situation we’re in is made up of a huge number of factors. The only common denominator is that our politicians from BOTH sides of the isle contributed.

    By the way, you can thank Reagan for bringing down the wall, ending the cold war, and likely for making America the military powerhouse it is today. The real a$$ clown is in office NOW; baffooning his way through office with no experience, no class, and no idea what he’s doing.

  4. Unless MSN gets moderated and sticks to the Mac topic, I’m sadly taking it off the everyday list. Sad that some idiots find it necessary to trash an otherwise wonderful website.

  5. Social Security is the real money pit.

    Phase out that fscking farce and watch this country roll again.

    Government is not your mommy.

    Work hard and take care of yourself for a real change. With the money the government takes from you to waste on Social Security, you could do much, much better for yourselves.

    If Bush blew anything, it was his chance to start remaking Social Security.

  6. Back to the original subject – yay for tech stocks! Apple is once again flirting with another all time high when it passes $321! Maybe by Aprill 2011 we’ll be nearing $400? Love the pathetic (mostly lone) analyst doomsayers. I suppose if they keep saying it SOMEDAY it’ll be true. Just not anytime soon this century.

    @ Softie

    You mean “Keep going DOWN MSPHFT!”

  7. @ Pirate:

    If you seriously think Reagan did ANY of that I have a bridge to sell you in Brooklyn.

    He was just the clown in power when the USSR crumbled due to it’s economic problems, but I am sure you are busy rewriting the facts in your head to suit your misguided delusions.

    His trickle down economics FAILED, supply side economics FAILED, and he successfully cut taxes on the wealthy by 50 % while increasing the national debt.. The only one with a worse record financially is George W. Bush…. So why are they called Conservative anyway…. ? Can any Republican explain that OXY MORON for us son?

    Also forgotten is Reagan’s own embarrassing propensity to just make things up. Reagan was a dunce and a fabricator. One of his most famous assertions was, “Trees cause more pollution than automobiles do,” and he maintained, wrongly, that sulfur dioxide emitted from Mount St. Helens was greater than that emitted by cars over a 10-year period. (In one day, cars emit 40 times what Mount St. Helens released in a day even at its peak activity.) In 1985, Reagan praised the P.W. Botha’s apartheid regime of South Africa for eliminating segregation, a blunder then-Press Secretary Larry Speakes had to correct a few days later.

    And let’s not forget the wages of “trickle down” economics and “Reaganomics,” from which we have still not recovered. In 1982, the Congressional Budget Office found that taxpayers earning under $10,000 lost an average of $240 from Reagan’s 1981 tax cuts, while those earning more than $80,000 gained an average of $15,130. By that fall, the jobless rate hit 10.1 percent—the worst in 42 years, and a year later 11.9 million were out of work. In 1983, the country’s poverty rate rose to 15 percent, the highest level since the mid-’60s. In 1984, a congressional study reported that cuts in welfare had pushed more than 500,000 people—the majority of them children—into poverty. Then-Attorney General Ed Meese’s response? “I don’t know of any authoritative figures that there are hungry children … people go to soup kitchens because the food is free and that’s easier than paying for it.”

    Fabrication, lying, cruel and counterproductive policies at home and abroad, bloating of the deficit, widening the gap between rich and poor: These are the Reagan legacy. As Republican candidates seek to wear his mantle, their Democratic opponents need to remind Americans exactly what they are putting on.

  8. When you look at the list of stocks leading the rebound today, it’s extremely laughable to add the other companies after list APPL. the others just benefitted from the huge upward movement that APPL created. They are clearly NOT leaders in this strong retake of the market. Laughable!

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