Nasdaq Leads March Higher

Earnings reports are boosting sentiment.
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The tech-heavy

Nasdaq Composite Index

was soaring out of the gate as quarterly earnings reports streamed down on Wall Street.

The Nasdaq Comp was up 39 to 2622. The

Dow Jones Industrial Average

was up 24 to 10,419.

Highlighting earnings so far today has been Dow component

J.P. Morgan

(JPM) - Get Report

, which blew away Street earnings estimates. J.P. Morgan reported first-quarter earnings of $3.01 a share, blowing away the

First Call

11-analyst estimate of $1.73 and up from the year-ago $1.80, which excludes a charge. The stock was up 6 11/16 to 135 1/2.

The

S&P 500

was up 3 to 1353. The

Russell 2000

was up 4 to 422.

TheStreet.com Internet Sector

index was up 2 to 778.

TheStreet.com E-Commerce Index

was up 5 to 151.

The 30-year Treasury bond was down 4/32 to 96 11/32, yielding 5.50%.

Most Up at Open -- NYSE

Lucent (LU) , up 5 1/16 to 62 1/8

: The company said yesterday it expects second-quarter earnings to meet or beat analysts' expectations.

Most Up at Open -- Nasdaq

Net.B@nk (NTBK) , up 13 3/32 to 249

.

Most Down at Open -- NYSE

Chevron (CHV) , down 1 3/4 to 92 3/4

.

Most Down at Open -- Nasdaq

Infoseek (SEEK) , down 4 1/2 to 75

:

BT Alex. Brown

downgraded Infoseek to buy from strong buy.