Good news on inflation sent stocks surging once again on Tuesday, and beaten-down stocks like Intel (Quote) and Home Depot (Quote) led the way.
A better than expected wholesale inflation report and encouraging words on interest rates by St. Louis Fed President William Poole encouraged buyers, and Home Depot and Wal-Mart gained on turnaround hopes despite lackluster results.
Intel was the Nasdaq's most-active stock, surging 4% on new quad-core chips.
Netopia (Quote) soared on a buyout offer from Motorola (Quote).
Agilent (Quote) and Mamma.com (Quote) fell on their results.
Cognizant (Quote) gained on news that it will be joining the S&P; 500.
NetApp (Quote) and Applied Materials (Quote) gained ahead of their results late Wednesday.
The Nasdaq surged 24 to 2430, the S&P; 500 gained 9 to 1393, and the Dow rose 86 to 12,218. Volume rose to 2.98 billion shares on the NYSE, and 2.02 billion on the Nasdaq. Advancers led 24-8 on the NYSE, and 21-9 on the Nasdaq. Upside volume was 75% on the NYSE, and 73% on the Nasdaq. New highs-new lows were 326-24 on the NYSE, and 232-67 on the Nasdaq.
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