“NEW YORK (AP) – The Dow Jones industrial average reached its highest level since mid-2002 Friday as investors greeted strong earnings from General Electric Co. (GE) and the technology sector. The market’s major indexes were all up for a seventh week in a row.
GE’s earnings helped reassure investors skittish following Intel Corp. (INTC)’s disappointing revenue projections earlier this week.
‘The key thing here is that you’re starting to see some aggressive buying coming back into the market,’ said Jim Raphalian, head of institutional trading at Charles Schwab. ‘There’s more than one buyer for any stock being sold, and there are both institutional and retail buyers. And that’s because earnings are showing us that fundamentals are sound.'”
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