DARYN KAGAN, CNN ANCHOR: First, though, we go to Deborah Marchini on Wall Street with the word there. Deborah, talk about a reaction to the news from the Fed.</s>DEBORAH MARCHINI, CNN CORRESPONDENT: Incredible wasn't it? We saw technology stocks, in particular the Nasdaq composite, rally 8 percent yesterday. That brings the gain for the last nine sessions to 27 percent, and to judge from the futures this morning it appears that investors are poised to continue buying technology stocks. That comes in part on a good report after yesterday's closing bell from IBM. We also had Xerox losing a little less money than expected among the companies reporting this morning. S&P; futures are pointing to more of a break-even performance for the Dow Industrials. Those defensive companies that -- like drugs and the like -- have tended to do rather poorly when tech stocks do well. We're also seeing some Dow companies reporting results that are not exactly stellar as of yet, Daryn.</s>KAGAN: So Deb, it looks like it could be another strong day, but not the blockbuster of yesterday.</s>MARCHINI: It would be hard to top the blockbuster of yesterday. We are looking for a bit of a follow-on rally, though. And we can tell you that folks are trying to figure out now whether we've, in fact, seen a bottom in the markets. If you look at what's happened overall -- as we said, the Nasdaq had rallied back considerably -- the Dow Industrials, after being almost in bear market territory are now down just about 1.6 percent for the year. And the S&P; 500, which is the broadest market measure, in yesterday's rally basically recovered from bear-market territory.</s>KAGAN: All right, Deb Marchini, thanks for the insight; appreciate it. You have a great day. TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Technology Stocks Seem to be Recovering