Nasdaq crosses 5,000 mark

Investors have become enamoured by technology stocks because many of the companies raise cash through venture capital and stock offerings, making them less subject to a slowdown in the current rising interest-rate environment. The sector8217;s gain has left blue chips in the cold.

The strength have been led by computer-chip makers, with the Philadelphia Stock Exchange Semiconductor index up 76.7 per cent in 2000 and biotechs. The Nasdaq biotechnology index, made up of more than 100 firms, is up 82.6 per cent in 2000. Microsoft Corp also boosted Nasdaq on Tuesday, up 6-1/16 at 96-3/4, after Goldman Sachs said the software giant8217;s management appears very focused on settling the government8217;s antitrust lawsuit.