InternetStocks Rocket as Greenback Gains

For a day at least, positive inflation signs overcame credit market worries. Research in Motion led the Nasdaq higher.

A big jump in the U.S. dollar and a big drop in oil prices sent stocks soaring Friday, as investors cheered signs that inflation pressures are easing. The news was good for a 2.5% gain for the major stocks indexes, which notched six-week highs on positive inflation trends that have been building since mid-July. The news was good enough to help investors overcome the market's other big worry — the year-long housing and credit crisis — even though Fannie Mae's (NYSE: FNM) dismal quarterly results suggested that no end remains in sight for those troubles. Of the Nasdaq's most actively traded technology stocks, Research In Motion (NASDAQ: RIMM) posted the biggest gain, up 5.1% on an upbeat conference presentation. Adobe (NASDAQ: ADBE) and Amazon (NASDAQ: AMZN) rose 4.5% each, and Google (NASDAQ: GOOG), Apple (NASDAQ: AAPL), Oracle (NASDAQ: ORCL) and eBay (NASDAQ: EBAY) gained more than 3% each. Time Warner (NYSE: TWX) rose 7.6% even as Google said its AOL investment may be impaired. Qwest... [ Read more on www.internetnews.com ]

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