Markets Surge at Opening
Wall Street opened up sharply this morning, following a strong second-quarter earnings report from chip-king Intel after yesterday's closing bell.
In the first 15 minutes of trading, the Dow was up about 128 points, or a solid 1.5 percent.
The S&P 500 was up about the same amount and the tech-heavy Nasdaq was up more than 2 percent, pushed higher by the Intel news, which suggests that people are buying computers faster than expected.
Gannett, the nation's largest newspaper publisher, surprised the Street by beating expectations for the second quarter in earnings released this morning, reversing a loss from the same quarter last year.
But don't get too optimistic: Newspaper advertising continues to plummet; McLean-based Gannett's gains came from cost-cutting, and you can't do that forever.
July 15, 2009; 9:57 AM ET
Categories: The Ticker | Tags: Dow Jones, Gannett, Intel, nasdaq, s&p 500
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