Investors buy up tech, financial stocks
NEW YORK — Wall Street is turning higher as investors buy up technology and financial stocks to square their portfolios on the last day of the quarter.
Analysts are attributing much of the advance to large investors loading up on rising stocks to make their portfolios look good at the end of the first quarter, which ends today.
Investors have shrugged off lackluster economic data and are snatching up some of the biggest names in technology and banking, including Google, International Business Machines, Bank of America and Citigroup.
At midday, the Dow Jones industrials are up 100 points at the 7,622 level. The Standard & Poor's 500 index is up 10 to 797, while the Nasdaq composite index is up 23 to 1,525.
By The Associated Press
