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Nasdaq snaps losing streak, leads market higher

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(GlobalPost/GlobalPost)

The tech-rich Nasdaq Composite Index rallied Tuesday, leading the market to its first day of gains after three straight losses.

The Nasdaq jumped 33.23 (0.81 percent) to 4,112.99.

The Dow Jones industrial Average advanced 10.40 (0.06 percent) to 16,256.27, while the broad-based S&P 500 rose 6.95 (0.38 percent) to 1,851.99.

Analysts said it was too soon to say if Tuesday's rally meant the tech sector had stabilized.

Nasdaq has been in retreat since early March due to concerns Facebook, Tesla Motors and other high-flying stocks are overvalued.

But Art Hogan, chief market strategist at Wunderlich Securities, said the tech sector had become "oversold".

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http://www.globalpost.com/dispatch/news/afp/140408/nasdaq-snaps-losing-streak-leads-market-higher