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"Election uncertainty" has been blamed for the past week's selloff, even though many were saying it was really caused by concerns about slowing growth. But did you see that spike in the markets when the announcement came in that a judge in Florida said votes in the recount need to be certified by 5 p.m. today?


Nasdaq and the

Dow Jones Industrial Average have settled back a bit as investors heard part two of the judge's decision, which said counties can file supplemental or corrected returns after that time. Also, an appeals process of the results could still be activated.

The indices fell back almost immediately, but then headed back toward their highs.

Tech stocks in the past week have felt the brunt of the selloff, but today they were steadily coming back.


(ORCL) - Get Oracle Corporation Report

was the most active stock on the Comp on news that it and


(C) - Get Citigroup Inc. Report

announced a strategic alliance in which they will integrate each others' technologies and services. The move helps position Oracle as a clearinghouse for business-to-business transactions over the Web. Oracle lately was up 12.6%, while Citigroup was 2.5% higher.



(GLW) - Get Corning Inc Report

was jumping after it joined up with

TheStreet Recommends


(CSCO) - Get Cisco Systems, Inc. Report

to make optical equipment for the Internet.

Retailers were also coming back.


Home Depot

(HD) - Get Home Depot, Inc. Report



(WMT) - Get Walmart Inc. Report

were both higher after reporting their third-quarter results. Home Depot announced third-quarter earnings of 28 cents a share, hitting the

First Call/Thomson Financial

estimate right on the nail, while beating the year-ago quarter by three cents. But, according to CEO Arthur Blank, falling commodity prices and a competitive retail environment will make it tougher to produce big results this fourth quarter. In a company press release, Blank said: "These factors have also made us cautious regarding our sales outlook for the fourth quarter fiscal 2000."

Meanwhile, Wal-Mart reported third-quarter earnings of 31 cents a share, alsot in line with estimates and two-cents higher than the year-ago 29 cents. Sales rose to $45.7 billion from $40.9 billion.

Also in the category of retailers-that-beat-expectations were


(TJX) - Get TJX Companies Inc Report



(TGT) - Get Target Corporation Report


J.C. Penney

(JCP) - Get J. C. Penney Company, Inc. Report

. The

S&P Retail Index

lately was 3.6% higher.

Sector Watch

Brokers were finally relieved from the destructive force called

J.P. Morgan

(JPM) - Get JPMorgan Chase & Co. Report

, which traded 2.9% higher today. The

American Stock Exchange Securities Broker/Dealer Index

rose 3.5%.

All things tech were in the green. The

Philadelphia Stock Exchange Computer Box Maker Index

was up 6%. The

Philadelphia Stock Exchange Semiconductor Index

was gaining 5.9% and the

Morgan Stanley High-Tech 35

jumped 6.6%.

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Bonds were mixed after a solid performance yesterday; the market is reacting to the equity market, which is rising after a sharp selloff yesterday.

The benchmark 10-year

Treasury note is at 99 31/32, up 4/32, to yield 5.753%.

The 30-year

Treasury bond is at 106 5/32, up 12/32, to yield 5.812%.


retail sales


definition |

chart |


) were slightly stronger than expected, rising 0.1% after a 0.9% increase in September. A decline of 0.1% had been forecast.

The major negative factor was a 1% decline in new-car dealer sales, which account for one-quarter of monthly retail business. There was little sign of a general slowdown in demand and, ex-autos, the index rose 0.4%, below September's 0.7% rise. Overall, retail sales suggested that the economy is moderating rather than falling off sharply.

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