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Technology stocks rose in Thursday's aftermarket, gaining
back some ground lost in regular trade, after another surprise announcement
from the Federal Reserve that it cut the U.S. discount rate
again. The tech-heavy Nasdaq index futures rose a little on the news, which came after the end of Thursday's regular session, and then inched down. A number of bellwether high-tech stocks rose in after-hours trade, including Web gear maker Cisco Systems, the most actively traded on Nasdaq and in the aftermarket. "This rate cut is more symbolic, but it also causes a great deal of a psychological benefit to the market,'' said Art Hogan, chief market analyst at Jefferies & Co. "We see some firmness in the market tomorrow morning, especially with the Nasdaq trying to give back some its gains today.'' |
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