Tuesday, August 02, 2005

Scary earnings alert: Nasdaq hits four-year high

The last tech bubble in the late '90's, and especially the accompanying attitudes, is what made me leave Cisco after five years, and take some time off to determine WTF. Let's hope this current enthusiasm isn't just another fragile bubble of speculation stupidity.

A Reuters newswire article, via C|Net News, reports that:

U.S. stocks rallied on Tuesday after a government report showed strong consumer spending in June, while a favorable industry outlook from chipmaker Maxim Integrated Products drove the Nasdaq to a fresh 4-year high.

Higher earnings from cable operator Comcast and speculation that Microsoft is likely to raise its annual dividend also gave technology shares a boost. Microsoft, which is among the Dow's 30 stocks although it trades on Nasdaq, lifted both indexes as its shares rose 3.4 percent to $26.81.


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