Tech Stocks Lead Wall Street Higher
Updated from 3:43 p.m. EDT
Stocks in New York stayed strong through the finish Thursday as a decline in oil and a rally in technology helped investors look past a series of otherwise disappointing economic data.
The Dow Jones Industrial Average had a shaky start, but it overcame early losses to close up 93 points, or 0.7%, at 12,991. The S&P 500 climbed 15 points, or 1.1%, to 1423, and the Nasdaq Composite tacked on 37 points, or 1.5%, to 2534, as CNET (CNET) surged on buyout news.
Market sentiment was bearish at the open, but investors perked up after Northeastern factory activity data showed vast improvement. The Philadelphia Fed Index came in at negative 15.6 for May -- still a contraction, but far less egregious than last month's decline of 24.9, and better than the economists' consensus for negative 19.
The Real Story Wrap: May 15
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