By Kate Gibson
A leader in the U.S. stock market's lengthy climb, technology's
role in the rally will soon be tested, with Intel Corp.'s
third-quarter financial results expected to shed light on
conditions for the industry at large going into the holiday
shopping season.
"Tech needs to confirm, period," said Marc Pado, U.S. market
strategist at Cantor Fitzgerald.
On Oct. 13, investors will hear third-quarter financials from
Intel (INTC), the world's largest semiconductor company, kicking
off the technology earnings season, with rival Advanced Micro
Devices Inc. (AMD) scheduled to report two days later.
Both companies are expected to benefit from an improving
consumer PC market, and an anticipated increase in corporate
demand. .
On Friday, health-are and information-technology shares fronted
gains as the major indexes headed toward a solid weekly advance
pegged in ranges between 3% and 4%.
The Dow Jones Industrial Average (DJI) rose 29.62 points to
9,816.49. The S&P 500 Index (SPX) gained 2.67 points to
1,068.15, while the tech-laden Nasdaq Composite Index (RIXF) added
9.46 points to 2,133.39.