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Market Update : 
Rally in Tech and Energy Stocks
Author: 123jump.com Staff
123jump.com
Last Update: 5:37 PM EDT May 15 2008

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Tech and energy stocks advacned in the session. Cisco, Intel, Yahoo, Apple, Google and Research in Motion closed higher and lifted Nasdaq up 1.4%. Energy stocks gained as well, after crude traded at elevated level. Oil drillers, explorers and services providers closed higher. Metals and mining companies gained on the weakness in dollar and sustained demands from China and other Asian nations.

 
Wheat futures increased 7.50 cent in Chicago trading and closed at $7.71 per bushel. Sugar decreased 5 cent to $11.00 per pound. Soybean future closed down 32.00 cents to $13.47 a bushel.

Dollar edged lower and traded near record low against euro to $1.5446 and edged higher against yen to 104.75.

Yields on U.S. bonds decreased to 3.81% with 10 years of maturities and decreased to 4.55% with 30-year of maturities.
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