Technology stocks surged as shares from Apple Inc. to International Business Machines Corp. rallied before results from the biggest companies provide a clearer picture of quarterly earnings.
Computer and Internet shares in the Standard & Poor’s 500 Index surged 1.7 percent, paced by gains in Facebook Inc., Microsoft Corp. and Cisco Systems Inc. Technology companies, among the worst performers during a market selloff Friday, are being watched closely amid a reporting season that may see the first quarterly decline since 2009 for companies in the S&P 500.
The Nasdaq 100 Index soared 1.4 percent at 1:31 p.m. in New York, the most in a month. The S&P 500 advanced 1 percent to 2,101.20, climbing above its average price for the past 50 days. The Dow Jones Industrial Average jumped 212.77 points, or 1.2 percent, to 18,039.07, after plunging almost 280 points on Friday.
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