Large Stock Focus: Microsoft, Cisco, H-P Intel Gain
NEW YORK -- A strong earnings report from Intel boosted U.S. blue-chip stocks Wednesday, extending the Dow Jones Industrial Average's winning streak to seven sessions.</br></br>Still, the Dow's gain was slim and the broader Standard & Poor's 500 index snapped a six-day streak as optimism over the pace of corporate earnings gave way to a chilly economic forecast from the Federal Reserve.</br></br>Intel's results were seen as proof that businesses have joined consumers in snapping up new computers, and the numbers provided a big boost to other technology stocks. Intel (Nasdaq) climbed 35 cents, or 1.7%, to $21.36; Cisco Systems (Nasdaq) advanced 65 cents, or 2.8%, to 23.74; Microsoft (Nasdaq) advanced 31 cents, or 1.2%, to 25.44; and Hewlett-Packard rose 57 cents, or 1.2%, to 47.34.</br></br>"What the Intel report tells you is that the world really wants technology. We've had 10 years of business either moderately [investing] or underinvesting in technology, and now we're in a refresh cycle," said Morris Mark, president Mark Asset Management.</br></br>Still, he added, "that's not enough to get employment and housing where it ought to be."