US STOCKS SNAPSHOT-Nasdaq jumps on tech rally; Dow, S&P fall

Published: 02 Feb 2009 19:20:34 PST

NEW YORK, Feb 2 - A rally in technology stocks lifted the Nasdaq and the S&P 500 on Monday on bets Obama administration's economic stimulus will boost spending on telecommunications and tech infrastructure.

* The Dow and S&P 500 fell as uncertainty about a plan to stem bank losses dragged Bank of America down almost 9 percent.

* The surge in tech bellwethers, coming after a sharp two-day technology sell-off, picked up speed at the end of a volatile session, lifting Microsoft Corp 4.3 percent and Intel Corp 5.7 percent.

* The Dow Jones industrial average ended down 64.27 points, or 0.80 percent, at 7,936.59. The Standard & Poor's 500 Index dipped 0.67 point, or 0.08 percent, to 825.21. The Nasdaq Composite Index rose 18.01 points, or 1.22 percent, to 1,494.43.