Wednesday, November 22, 2006

Nasdaq , S & P end at multiyear highs, Biotechnology finishes down

The Nasdaq composite surged to its highest point in nearly six years Wednesday, after Dell's upbeat earnings helped spark a rally in technology.

But the blue-chip averages meandered the day before Thanksgiving, with investors distressed by a slump in GM shares on news that one of its major shareholders has substantially cut its stake in the automaker.

The Nasdaq composite (up 11.14 to 2,465.98) added almost 0.5 percent ending at its highest point since February 2001.

The Dow Jones industrial average (up 5.36 to 12,326.95) ended the session just above unchanged. The blue-chip barometer briefly hit a record trading high of 12,360.52 in the first minutes of trade, before retreating.

The broader S&P 500 (up 3.28 to 1,406.09) index added 0.2 percent and closed at a six-year high.

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