Tech Shares Lead Sharp Rally

Updated from 4:05 p.m. EDT

Investors went on a buying spree Monday, hoping for some solid second-quarter earnings reports.

The Dow Jones Industrial Average finished up 146.58 points, or 1.6%, at 9216.79, while the S&P 500 gained 18.80 points, or 1.9%, to 1004.50. The Nasdaq rose 57.79 points, or 3.5%, to 1721.25, eclipsing its intraday high of 1718 hit on May 21, 2002. Treasury prices were lower, with the yield on the 10-year note at 3.73%.

"Are they blowing up another bubble? Possibly," said Al Goldman, chief market strategist at A.G. Edwards. "Internals are very positive, and markets could continue moving up from here, but last time I checked, they haven't changed the rules of gravity." ...