Wall Street: Thursday close

SHARES moved higher as investors chose technology as the place to be at the end of a tumultuous year. The Dow Jones Industrial Average, which started the day down 6.5% on the year, rose 43.17 points or 0.43% to 10,131.31 in light trading. The Nasdaq Index, sporting a loss of 20.6% for 2,001, bounced 15.72 points or 0.80% to 1,976.42.

Forecasts of a re-bound in demand for semiconductors helped the tech sector from the outset. Advanced Micro Devices jumped 50 cents or 3.2% to $16.12 on a recommendation from Merrill Lynch. Atmel, which makes chips for mobile 'phones, surged 87 cents or 13% to $7.49 on positive words from broker A.G. Edwards. Intel, the biggest maker of semiconductors, tacked on 38 cents or 1.2% to $32.67. Apple Computer firmed 58 cents or 2.7% to $22.07 on broker comments that its business could pick up in the New Year. Gateway, which has been hammered in cost-cutting battle among personal computer makers, jumped 55 cents or 7.3% to $8.09 as Prudential Securities said that PC sales were 'tracking above gloom and doom forecasts.'

'Technology has done poorly so far this year, but it is still a place that people want to be in, that they believe in,' said Rafael Tamargo, director of equity research at investment firm Wilmington Trust. 'People are expecting that is where the growth is going to come from when the market recovers.'

Retailers continued to benefit from relief that the holiday shopping season was not as bad as some economists had feared. Wal-Mart, which on Wednesday said that its holiday sales would come in at the upper end of expectations, added another 22 cents or 0.4% to $58.37. Internet retailers were mixed after Wednesday's strong gains. A consulting firm said that online sales during the most important shopping season of the year had leapt 34% to $6.3bn. Yahoo!, which had already boasted of a big jump in sales, rose another 26 cents or 1.5% to $17.77. Amazon.com fell 50 cents or 4.5% to 10.60 and eBay dipped 17 cents or 0.3% to $66.17.

Brewer Adolph Coors, which earlier this week wrapped up a deal to buy Britain's Carling for $1.75bn., continued its retreat on broker comments that it had overpaid for brands with which it had few synergies. Shares in Coors, down 12% in the past three trading days, lost 94 cents or 1.7% to $53.95.

Financials were among the winners. Citigroup moved up 56 cents or 1% to $50.78 and American Express added 30 cents or 0.9% to $35

Among Dow components, Walt Disney gained 40 cents or 2% to $21 and General Motors rose 27 cents or 0.6% to $48.25. Merck was marked down fractionally to $59.78 in a weaker pharmaceutical sector.