Newspaper article St Louis Post-Dispatch (MO)

Profit Outlook Buoys Investors

Newspaper article St Louis Post-Dispatch (MO)

Profit Outlook Buoys Investors

Article excerpt

Stocks staged their biggest rally in almost four weeks Friday as Intel Corp., Cisco Systems Inc. and other computer-related shares rose on optimism that first-quarter profits will exceed expectations.

"We're going to see some big gains when earnings are announced," said Robert Finch, a money manager at Aeltus Investment Management. "Few of the big name tech stocks came out and warned that they'd disappoint."

The Dow Jones industrial average advanced 48.72, recovering from a loss of 72 points. Even after Friday's rally, the week was the Dow's worst since June 1994. Concern that the Federal Reserve will raise interest rates for a second time this year helped send the Dow down 3.2 percent for the week, briefly erasing all of the year's advance. The Standard & Poor's 500 index rose 7.58 Friday, the biggest gain in almost four weeks. The surge in Intel and Cisco that helped the S&P 500 recover late in the day sent the Nasdaq composite index soaring 22. …

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