Rally Following Through
A strengthening global market for semiconductor stocks helped rally chip
stocks worldwide Thursday, and that rally looks to be continuing Friday as the
broad averages are looking at a solid open to the upside. Apparently rising DRAM
prices and a drying-up of the chip glut helped rally the chip sector.
The Dow futures are up 110 points, and the Nasdaq futures are up 42.5 points.
The S&Ps look to open up 15.5 while the 10-year Treasury is holding at
4.79%.
Friday Movers
The biggest Dow mover Thursday was Intel
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12.2% to help motivate the SOX. Intel is leaning higher at the open and is
currently trading up to 29 1/8 following its 28 11/16 close.
Rambus
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trading up to 25.20 following its Thursday close of 22.95. Rambus had traded as
low as 15.67 just last Friday.
Applied Materials
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Thursday as it moved back above its 50-day moving average. Applied Materials is
set for more upward action and is currently trading up to 51 3/8.
Vitesse Semiconductor
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PowerRating), which gained 17/32 to 40 3/32 Thursday,
also looks strong in early action and is trading up to 41 1/8 in pre-market
activity.