Wall Street opened higher Friday after Intel raised its revenue guidance for the third quarter in what may be another sign businesses are starting to recover from the ongoing recession.
Intel, the world's largest chipmaker, climbed 5.5 percent, after raising its sales forecast for the quarter, adding to evidence that computer demand is recovering.
Intel says it now expects sales of 8.8 billion to 9.2 billion U.S. dollars in the current quarter. It had previously forecast revenue in the range of 8.1 billion to 8.9 billion dollars.
Meanwhile, Dell Inc., the world's second largest marker of personal computers, reported late Thursday that its profit and revenue topped estimates.
Investors have been looking for signs of improving consumer spending to determine the potential timing and size of any economic recovery.
The Dow Jones rose 34.08 to 9,614.71. Broader indexes also made upside movement. The Standard & Poor's 500 index added 4.42 to 1,035.40 and the Nasdaq rose 24.05 to 2,051.78.
Source: Xinhua
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