Tech Stocks Benefit

The Dow Jones industrial average jumped 413 points, or 4.67%, Monday closing at 9,265.43. After a horrible last week trading showed a positive trend; it had a few dips during the day, but as closing bell was near the stocks momentum was upward. A lot of technology stocks rose well in all categories, including chips, the Internet, networking, software, cable, and satellite services manufacturers. The upward trend occurs because the companies are about to reveal there third-quarter earnings, many people believe no matter what the the U.S. technology companies will over come it.

(Federal Reserve Chairman Ben Bernanke spoke and seemed to soothe investors with promises of increased government spending to stabilize the credit market and the economy, in general. He also voiced support for a second economic stimulus plan. Democrats and President George W. Bush have also expressed support for a second stimulus package.) (Jones, 2008)

Jones, K.C. (October 20, 2008). Dow Gains More Than 400 Points, tech stocks benefit. Retrieved October 21, 2008, from Information Week Web site: http://www.informationweek.com/news/internet/ebusiness/showArticle.jhtml?articleID=211202018