Microsoft led the stock market higher yesterday, putting an end to a one-day slump in hi-tech shares and lifted the Dow Jones industrials.
On Wall Street, the Dow rose 65.15 to close at 11,225.32 and Microsoft accounted for more than half that gain. Broader stock indicators also closed higher after reversing early declines.
Declining issues outnumbered advancers by an eight-to-seven margin with 1,662 down, 1,430 up and 484 unchanged.
NYSE volume totalled 1.022 billion shares at the close compared to 1.017 billion in the previous session.
The Russell 2000 index of smaller companies fell 1.44 to 461.31.
Microsoft's stocks rose after the company said its Windows 2000 code, which has been held up in numerous delays, has been delivered to software manufacturing plants. Retailers will be able to purchase Windows 2000-based products on February 17th.
Most Internet stocks fell yesterday. Yahoo! dropped sharply, while eBay and Amazon.Com posted more modest declines.
Even in the technology sector, where companies without profits can command hefty premiums, the latest wave of earnings news moved some stocks.
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