Tech Stocks Finally Begin Rebound

The Dow Jones industrial average closed up 269.30, or 2.39 percent, at 11522.56, while the Nasdaq rose 155.49, or 4.17 percent, to 3882.62. Internet stocks, which took a pounding all week, saw some of the best recoveries on Friday. Yahoo skyrocketed 39 1/16 to 407 1/4; RealNetworks climbed 18 7/8 to 132 1/14; Lycos gained 6 1/16 to 70 3/4; Amazon was up 4 to 69 9/16; and AOL added 4 1/4 to 73. Chip vendors also showed surprising strength. Intel picked up 3 1/4 to 82; Analog Devices was up 2 3/8 to 86 7/8; National Semiconductor rose 1 1/2 to 43; LSI Logic gained 1 1/4 to 61 1/4; and AMD rose 11/16 to 32 11/16. Software vendors also enjoyed a sizable bounce. The hardware sector was a little more mixed. The networking sector did largely well.