Intel investors take Dow, Nasdaq higher
NEW YORK - Intel drove the Dow Jones industrial average and the Nasdaq composite sharply higher Monday as investors rewarded the company for its strong growth prospects.
The Dow, down 265.52 on Friday, rose 108.54 points Monday, or 1 percent, to close at 10,557.84. Broader stock indicators also were higher. The Standard & Poor's 500 index was up 21.54 at 1,486.00, and the Nasdaq composite index was up 129.27 at 3,989.83. The Russell 2000 index of smaller companies rose 9.06, to 522.79.
Advancing issues outnumbered decliners by a 5-to-4 margin on the New York Stock Exchange, where composite volume came to 1.10 billion shares, compared with 1.43 billion at the same time Friday.