Big Blue boosts blue chips

US INVESTORS focused on IBM yesterday afternoon as they shopped for blue chips and techs on the heels of bullish guidance from Big Blue, Nokia and Eastman Kodak.

Around 1:25pm ET, the Dow Jones industrial average (up 204.04 to 8240.07, Charts) rose about 2.3%, although it was off its session high.

The Nasdaq composite (up 42.54 to 1274.96, Charts) and Standard & Poor's 500 index (up 18.72 to 878.74, Charts) also showed strength.