Market Close: Investors aren't afraid of Greenspan & Co.

Investors stepped on the accelerator for the second day in row Tuesday, pushing the Nasdaq composite up 40 points to 2,642.06 while the Dow Jones industrial average rallied up 160 points to finish at 10,815.35.

Of course, the economic world's attention is focused on the Federal Reserve Board's Open Market Committee meeting. On Wednesday, analysts are expecting the Fed to raise short-term interest rates by one-quarter of a percent.

"I'm bullish," said Scott Jones, director of equity trading at Jefferies & Co. "I'd take the chance that the Fed meeting will go as expected."

Compaq Computer Corp. (CPQ) closed up 1 1/8 to 23 7/16 after announcing it will sell a majority stake in its AltaVista Internet division to CMGI Inc. (CMGI), finalizing a deal that has been rumored for several days. CMGI shares stormed up 12 11/16 to 110 3/8.

Yahoo! Inc. (YHOO) moved up 3 1/2 to 160 while America Online Inc. (AOL) and Lycos Inc. (LCOS) tacked on 1 3/4 and 2 7/16 a share, respectively. Amazon.com Inc. (AMZN) hustled up 5 3/8 to 116 1/16 and Infoseek Corp. (SEEK) rose 1 1/16 to 46 1/4. Excite At Home Corp. (ATHM) shed 13/16 to 51 15/16.

E-Loan Inc. (EELN) "http:="" www.zdii.com="" industry_list.asp?mode="news&doc_id=ZE500554&pic=Y"" rel="">soared up 23, or 164 percent, to 37 in its initial public offering. Digital Island Inc. (ISLD) managed to gain 1 7/8 to 11 7/8 in its debut.

But it wasn't all good news on Wall Street Tuesday.

Seagate Technology Inc. (SEG) lost 2 3/8 to 27 1/4 after warning it would miss its earnings target for the fourth quarter. Western Digital Corp. (WDC) trimmed 1/8 to 6 5/16 while Quantum Corp. (QNTM) added 1 3/16 to 24 1/2.

Sequent Computer Systems Inc. (SQNT) "http:="" www.zdii.com="" industry_list.asp?mode="news&doc_id=ZE500561&pic=Y"" rel="">rose 3 9/16 to 17 9/16 on speculation that IBM Corp. (IBM) is in talks to buy the company. IBM shares finished up 2 5/16 to 124 7/8.

Dell Computer Corp. (DELL) fell 3/8 to 36 11/16 and Gateway Inc. (GTW) lost 15/16 to close at 59 13/16. Apple Computer Inc. (AAPL) moved up 2 13/16 to 45 3/8.

Microsoft Corp. (MSFT) picked up 1 1/4 to 88. Oracle Corp. (ORCL) inched up 7/16 to 37 1/8 and Sun Microsystems Inc. (SUNW) gained 11/16 to 66 1/2.