Tech Stocks Lead Markets Higher at Open
Wall Street opened up this morning, led by a strong rally from tech stocks.
In the first 20 minutes of trading, the tech-heavy Nasdaq is up more than 1 percent.
The Dow is barely up, positive by about one-tenth of a percent.
The broader S&P 500 is up about one-third of a percent.
The Nasdaq is being led by chip-king Intel, which boosted its third-quarter revenue outlook beyond Wall Street expectations, signaling increasing demand for chips and the products they go in -- consumer computers.
In other news, the Commerce Department said this morning that consumer spending inched up in July, largely thanks to the Cash for Clunkers program, though personal incomes remained flat.
-- Frank Ahrens
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August 28, 2009; 9:52 AM ET
Categories: The Ticker | Tags: Dow Jones, Intel, nasdaq, s&p 500
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