December starts out strong for tech stocks

“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.”

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