TECHNOLOGY shares led a modest Wall Street rally for the second successive session yesterday as investors mustered some more confidence for bargain hunting after the market's steep two week slide.
The Dow Jones industrial average gained nearly 30 points, padding out Friday's 48 point gain. But even with the market's encore performance few analysts were convinced that its troubles were over.
Many are looking for a drop of at least 10 per cent from the highs set earlier this year by leading market measures such as the Standard and Poor's 500 and the Dow, which had lost 400 points in five sessions before Friday's advance.
The Standard and Poor's 500 stock list rose 4.22 to 762.12, and the NYSE's composite index rose - 2.66 to 400.68. The Nasdaq composite index rose 14.61 to 1,251.34, and the American Stock Exchange composite index rose 3.71 to 560.44.
