Tech Stocks Lead Rally on The Stock Market Today
Buyers were having their way on Wall Street Thursday, and the major indices were rallying, albeit down from earlier highs, led by the tech sector. The Dow Jones Industrial Average was recently up 82 points, or 0.7%, at 12,524, and the S&P 500 was adding 9 points, or 0.7%, at 1424. The Nasdaq Composite was ahead by 22 points, or 0.9% at 2482. On the Dow, Intel and Honeywell were higher by at least 1.8%.
“The bulls have a very good chance to break the market out on the upside, but the Dow, S&P and other important market averages are lagging well behind the Nasdaq,” said Ken Tower, chief market strategist with CyberTrader. “These averages need to catch up, which is another way of saying that the rally has been quite narrow so far and needs to broaden.”
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