Yahoo leads market revival

TECHNOLOGY stocks led a moderate market advance at midday yesterday after Yahoo! inked a multi-million dollar acquisition, while some positive news on the economy supported a turnaround for the Dow industrials.

Around 12:35 pm ET, The Nasdaq composite, up 16.42 to 1379.47, rose more than 1%, while the Standard & Poor's 500 index, was up 3.46 to 899.22.

The Dow Jones industrial average, up 6.10 to 8517.42, rebounded from early losses on the back of some upbeat economic reports. The University of Michigan's consumer sentiment reading for December came in just a hair above forecasts at 86.7, and 84.2 in October. Economists had forecasted 86.6.