Stocks Edged Higher Thursday as Momentum in the Technology Sector

Advanced Market Timing Experts Workshop 2011,  Master Market Timing with the Leading Technical Analyst

Advanced Market Timing Experts Workshop 2011, Master Market Timing with the Leading Technical Analyst

Stocks edged higher Thursday as momentum in the technology sector offset disappointing reports on economic growth and the labor market, reported by Ken Sweet.

The Dow Jones industrial average (INDU) rose 8 points, or 0.1%, to end at 12,403; the S&P 500 (SPX) added 5 points, or 0.4%, to 1,326; and the tech-heavy Nasdaq Composite (COMP) gained 22 points, or 0.8%, to close at 2,783. The Dow had been down more than 70 points earlier in the session.

Among other tech names, NetApp (NTAP) shares jumped 7% after the data storage company reported strong quarterly results late Wednesday and issued an upbeat outlook for the current quarter.

The biggest decliners among the blue chips were Merck (MRK,Fortune 500) and Home Depot (HDFortune 500), which were both down roughly 1%.

May has been a volatile month for stocks overall, with the Dow and S&P 500 both falling about 3.2% since the beginning of the month.

Analysts at Standard & Poors are predicting the stock market could be in for a 10% correction over the next month.

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