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News Summary: Technology companies boost stocks

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The Associated Press | April 10, 2013 05:56 PM EST | AP


TECH REVIVAL: Technology stocks surged Wednesday amid optimism that business spending on technology equipment will pick up. That pushed the Standard and Poor's 500 index to all-time highs.

THE FED FACTOR: Stocks gained even after the minutes of the Federal Reserve's March meeting indicated that some policy makers want to slow and eventually end the central bank's bond-buying program before the end of the year. Some investors took this as a positive because it suggests that the central bank is more confident about the health of the economy.

EMERGENCY ROOM: Hospital stocks fell heavily after Deutsche Bank lowered its recommendation on the companies, saying their prices have risen so much that they no longer offer good value. Private hospitals have surged over the past year in anticipation that health care spending will increase following the introduction of President Barack Obama's health care plan.