Market close: Intel leads tech rally

Chip and PC stocks led technology stocks higher Monday as the Nasdaq composite stormed up 129 points to 3,989.85. The Dow Jones industrial average shot up 109 points to close at 10,557.84.

Investors seem convinced the Federal Reserve Board will leave interest rates unchanged during its meeting later this month. Technology leaders with higher valuations are suddenly much more attractive.

Intel Corp. (intc) led the charge Monday, surging up 10 7/16 to 136 1/2 after it announced new processors for notebook computers and analysts upped their estimates. Full story. -- Larry Barrett, ZDNet Inter@ctive Investor