Technology stocks surge on upbeat earnings forecasts
Technology shares jumped as Lucent Technologies and Xilinx affirmed forecasts easing Wall Street fears ahead of second-quarter results. The Nasdaq rose about 3.6 percent and Dow and S&P gained, led by Intel and Cisco amid a broad market rally driven by hopes for Fed rate cuts and tax relief. ExxonMobil also advanced on OPEC’s unchanged output and July meeting signals.
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