The beast of market bottoms reared its head in the chip sector again last night, and stocks were rallying at this morning's open.
Microprocessors are the brains behind personal computers.
Still seen by many as the leaders of this tech-centric market, chip stocks led a wicked stock market rally last week after influential Salomon Smith Barney analyst Jon Joseph upgraded the entire sector, saying it had bottomed. But some of those gains were deflated Monday when Morgan Stanley's Mark Edelstone countered that call, saying the bottom had not yet been hit. So expect Intel's vibes to dominate the market's mood today. The company's news bolstered stock futures in the U.S. and spurred powerful rallies in both Asia and Europe. Jay Meagrow, vice president of trading at McDonald , says he expects a powerful rally with strong volume on the Nasdaq today as well as some catch-up on the Dow.