Technological giants Helps NASDAQ stock market

On Wednesday, 6 August 2008, NASDAQ stocks soared to a sessions high because of better than anticipated reported of the technological giants. The NASDAQ stock market closed 2378.37 with an increase of 1.21 per cent. The crude oil prices also decreased 0.7 per cent to $118.37 per barrel. Various communication and networking giants such as Cisco (CSCO 23.96, + 1.31), Microsoft (MFST 27.01, + 0.80) were the major NASDAQ gainers that led to the recovery of market. Freddie Mac (FRE 6.71, -1.33), Whole Foods (WFMI 19.94, -2.98) and Fannie Mae (FNM 11.93, -1.67) were some of the NASDAQ shares that reported a substantial amount of loss. News Corp. (NWS.A 14.27, -0.98), Sprint (S 7.45, -1.10) and Dean Foods (DF 21.89, -1.44) were the sessions biggest losers. The shares of the major telecom sector such as Sprint Nextel (S 7.69, -0.86) are down with 10 per cent.