Bargain-hunting investors, enticed by a round of strong corporate earnings reports, pounced on the technology sector yesterday, helping the Nasdaq composite index to its second-biggest point gain in history.
The largest and best-established technology companies led the gains, driving the Dow Jones industrial average to a healthy gain of its own.
The Nasdaq composite index rose 228.65 to close at 3,711.13, more than wiping out Monday's 161.40-point loss. Just one week ago, the Nasdaq notched its biggest point gain ever, rising 254.41 points.
The increasingly volatile index has recorded its 10 biggest point gains and its 10 biggest point losses since the start of the year.
The Dow Jones industrial average rose 218.72 to close at 11,124.82.
Broader stock indicators were also higher.
According to preliminary calculations, the Standard and Poor's 500 rose 47.63 to 1,477.49.
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