— Six days in a row, baby.
That's my Nasdaq. The tech rally continued today for the sixth day, albeit in more muted tones. Still, it's nice to have some upward momentum. Blue chips were nowheresville, though.
But I was actually amazed by the strength of some of the big techs. Microsoft was up $1.50 to $70. Cisco up another 60 cents to $23. Ciena up $3.50. Hey, did you see that Peabody Energy Corp., the coal company, went public today? Huge IPO, (ticker BTU) was up $8.75 to $36.75.
Hard to believe how the world has changed. A coal company IPO rules. Can you imagine if they tried to do that 18 months ago? Now you couldn't do an Internet IPO if you tried. Also, Target was a winner too, after hitting its numbers. What a success story that is. Financials lookin' good, while Merck was weak, no doubt because of that story bashing Vioxx (its arthritis drug) in The New York Times. As for the numbers, the Dow climbed 80 to 11257, while the Naz was up 8 to 2313.
Keep cool. See you on Good Morning America! I'll be talking about the wild and wacky ways companies cut costs.
Andrew E. Serwer is editor at large for Fortune magazine, where he originated and writes for the "Street Life" column. He also has appeared on CNBC, CNNfn, Voice of America and PBS, and has published articles in Time, Sports Illustrated and SLAM. For more, go to “Street Life” on Fortune.com.