It was a day of momentary optimism and technical gains on Wall Street, despite a flood of depressing data.
Among the big losers were MySpace parent News Corp., reporting a $6.4 billion loss last quarter, and Toyota, encountering its first annual loss in fifty years.
Elsewhere, layoffs increased and factory orders decreased, though Wal-Mart, Macy’s and Akamai all showed positive signs. By the bell, the Dow managed to gain 106 points, or 1.34 percent, to 8,063.
The class of music-related stocks almost unilaterally gained. Apple (AAPL) lifted 3.11 percent to $96.42, SanDisk (SNDK) boosted 7.75 percent to $10.01, RealNetworks improved 2.06 percent to $2.97, and The Orchard boomed 16.5 percent to $2.33. Sirius Satellite Radio also surged 15.79 percent 16.5-cents.
Others remained level or edged downward. Live Nation (LYV) remained mostly unmoved at $5.23, and Source Interlink Companies (SORC) also stayed steady at 11-cents. Ticketmaster (TKTM) dropped 1.87 percent to $6.83.
Market report by analyst Alexandra Osorio.
