Economic report boosts techs
C|Net | at | by Mike
Better-than-expected economic news Wednesday helped the Nasdaq recover from another batch of profit warnings. The Nasdaq composite index rose 50.40 points to 1,542.73, and the Dow Jones industrial average was up 72.17 to 9,022.76. The markets opened lower Wednesday after Nortel Networks and Openwave Systems issued profit warnings Tuesday after the closing bell. That put an end to that day's rally after the Federal Reserve's half-percentage point cut to interest rates.