Biggest day of the month? You got a link for Biggs comments?
>>New York, July 27 (Bloomberg) -- U.S. stocks had their
biggest gains of the month as investors speculated that the last
week's decline made shares a good buy as long as interest rates
don't rise much further.
Intel Corp. led a surge in computer-related shares after an
analyst said the world's largest semiconductor maker is
benefiting from strong demand for cheap PCs.
The Nasdaq Composite Index rose 60.47, or 2.3 percent, to
2679.66, after losing 8.6 percent since July 16. The Standard &
Poor's 500 Index gained 15.10, or 1.1 percent, to 1362.86. The
Dow Jones Industrial Average climbed 115.88, or 1.1 percent, to
10,979.04.
After declines like those of the past week, ''I step in
there and buy,'' said Uri Landesman, chief investment officer at
Aaron Fleck & Associates, which manages $400 million. ''It
presents a tremendous opportunity for those who keep their
heads.''
Sellers overreacted to concern that the Federal Reserve will
raise interest rates, Landesman said. Now that that selling has
dried up, investors who expect that rates won't head much higher
are buying, he said. <<
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