Technology stocks jumped yesterday, sparking gains in the broader market, as an optimistic outlook from telecom equipment maker, Ciena and talk of economic recovery by US central bankers brought buyers back to Wall Street. "As investors get confidence that we will in fact see growth in the second half of the year, all the ingredients are in place for a pretty decent market," said Mr Donald Berdine, chief investment officer at PNC Advisors.

Market sentiment was also boosted after a Federal Reserve Bank of Philadelphia report showed manufacturing in the mid-Atlantic shrank for a third straight month in February.