Ariba Calls Rally; Nasdaq Shines
Internets and semiconductors are powering a Nasdaq rally Thursday that has
taken the index up 1.6% Thursday to its highest level in nearly three months. The
Dow and S&P 500 are marginally higher as well, but the day clearly belongs
At mid-day, the VIX is down .20 to 22.88.
The OEX July 810 calls are up 1 to 9 1/4.
Among bigger movers on heavier-than-average volume:
PowerRating) is up 21 7/16 to 229 1/2 ahead of its earnings
announcement scheduled for after the bell. The PMC Sierra July 250 calls are up
4 1/8 to 5 1/4 on five times the average volume.
Looking ahead, the Producer Price Index numbers will be released at 8:30 AM
ET on Friday and should offer more clues as to the inflationary pressures, or
lack thereof, in the economy.