NEW YORK -- Technology stocks regained leadership of the stock market Thursday, rising sharply and helping blue-chip names shake off economic reports that suggested more interest-rate increases.
The Nasdaq composite index rose 143.94 to close at 3,774.03. The Dow Jones industrial average, which fell 197 points in early trading, pared its loss to just 57.40, closing at 10,888.10.
On the New York Stock Exchange on Thursday, declining issues outnumbered advancers by an 11-to-9 margin.
Target will open store in Aiken
Minneapolis-based Target Stores said its Aiken location will employ 200 people when it opens Oct. 8 at the corner of Whiskey Road and Brookhaven Drive.
The 125,000-square-foot store, along with a new one in Hilton Head slated to open the same day, is the company's eighth store in South Carolina.The Aiken store is the second in the metropolitan Augusta area. Target anchors the 800,000-square-foot Augusta Exchange off Wheeler Road.
Westinghouse gets new contract
Aiken-based Westinghouse Safety Management Solutions LLC, a subsidiary of the Westinghouse Savannah River Co., has been awarded a five-year federal supply schedule contract from the General Services Administration to provide professional engineering services to government agencies.
Through the contract, the company joins other approved firms who have agreed to provide products and services at a set price to participating federal agencies. Contracts are limited to less than $750,000.
Wage increases boost economy
WASHINGTON -- The U.S. economy grew robustly in the first three months of this year as workers enjoyed the biggest jump in wages and benefits in 10 years.
The country's total output of goods and services rose at an annual rate of 5.4 percent during the January-March quarter, the Commerce Department said Thursday. Consumer spending led the way by posting its largest increase in nearly 17 years.
Service launches e-mail postmark
WASHINGTON -- The Postal Service launched its new electronic postmark service Thursday, offering a means of dating and securing e-mail.
An electronic postmark is a feature available through any e-mail service. It provides a Postal Service date stamp to guarantee the date the message was sent. The message cannot then be changed without the alterations being obvious, postal officials said.