Updated from 4:05 p.m. EDTTech stocks soared Tuesday, with blue chips also posting solid gains, as oil and bond prices slipped after generally positive congressional testimony from Fed Chairman Alan Greenspan that left the door open for more aggressive rate-tightening. The Nasdaq Composite posted its biggest one-day point gain in over a month, rising 33.24 points, or 1.76%, to 1917.07. The Dow Jones Industrial Average added 55.01 points, or 0.54%, to 10,149.07; and the S&P 500 was up 7.77 points, or 0.71%, to 1108.67. The 10-year Treasury note was down 23/32 in price to yield 4.44%, while the dollar was stronger against the yen and euro. In New York, oil futures for September delivery closed down $1, or 2.4%, at $40.44 a barrel. In moderate summer trading, volume exceeded 1.4 billion shares on the New York Stock Exchange, where advancers outnumbered decliners by about 5 to 4. On the Nasdaq, nearly 1.6 billion shares changed hands, and advancers more than doubled decliners. Greenspan's semiannual congressional testimony signaled no immediate changes to his previous script, pledging a "measured" approach to raising interest rates and saying that economic conditions have "generally been quite favorable in 2004, lending increasing support to the view that the expansion is self-sustaining." He did, however, acknowledge that inflationary forces existed and may bear some responsibility for some soft economic numbers of late. "Inflation also seems to have been boosted by transitory factors such as the surge in energy prices," he said. "Those higher prices, by eroding households' disposable income, have accounted for at least some of the observed softness in consumer spending of late, a softness which should prove short-lived." If inflation should prove a larger problem than anticipated, the Fed chief left the door open for a more aggressive stance on interest rates, saying that the Federal Open Markets Committee will be watching the data closely, and if more drastic measures are taken, "our economy appears to have prepared itself for a more dynamic adjustment of interest rates."