Tech sector paces Wall Street rally after glum economic data

Date: Wed, 26 Nov 2008 17:01:40 -0500

Tech sector paces Wall Street rally after glum economic data

Stocks rally, marking the market's fourth session of gains in a row,
as investors focused on deals in the battered technology sector
following gloomy economic data and downcast corporate reports by Deere
and Tiffany.

SCORES ARE KILLED IN MUMBAI IN COORDINATED ATTACKS

A series of coordinated bomb and gun attacks on Wednesday night in
Mumbai, India's financial capital, have claimed dozens of lives while
sowing chaos and confusion.

ONLINE RETAILERS MAY SEE HOLIDAY SLUMP

Online retailers are likely to feel the pressure of the slowing
economy, with sales for the core holiday-shopping season expected to
remain flat with last year.

CHINA SLASHES RATES TO KICK-START SLOWING ECONOMY

The People's Bank of China Wednesday slashes its lending and borrowing
rates by more than 1%, in addition to cutting banks' reserve
requirements sharply, to deliver its strongest response yet to a
recent slowdown in the mainland's economic growth.

EUROPEAN UNION PROPOSES $260 BILLION STIMULUS

The European Union proposes a 200 billion euro ($260 billion) effort
that would see member states coordinate attempts to provide a fiscal
jolt to the region's stagnating and shrinking economies.