Dow soars with Apple, Microsoft among double-digit gainers
Investors cheered Monday as the beleaguered index gets back up above the 9,000 mark by surging 936 points in its largest single-day point gain ever.
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, 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'son 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.