Microsoft-settlement hopes lift techs
C|Net | at | by Mike
Despite negative economic news, the markets added gains after reports that Microsoft is nearing a settlement with the government. The Nasdaq composite index was up 56.10, more than 3 percent, at 1,746.30, and the Dow Jones industrial average rose 188.76 points, more than 2 percent, to 9,263.90. The Justice Department and a group of state attorneys general met to discuss the Microsoft case this week. The proposed deal would allow computer manufacturers to load non-Microsoft software on their machines and give software companies more access to the Windows code. The news sent Microsoft's stock up $3.69, or more than 6 percent, to $61.84 as investors pondered what could turn out to be the completion of the dispute. But the end may not quite be in sight: Experts cautioned that this week's settlement discussions could collapse at any time, and the states are reportedly not entirely happy with the proposed deal.