Stocks surged yesterday, giving the Nasdaq market its third biggest percentage gain ever, after computer giant Dell Computer stood by its first-quarter earnings targets.

The announcement from Dell, the world's second biggest personal computer maker, was a shot in the arm for investors unnerved earlier this week by a recent slew of companies warning their results will fall short of expectations.

The technology-packed Nasdaq Composite Index soared 146.33 points, or 8.93 per cent, to 1,785.13, led by Dell and other technology giants. The blue-chip Dow Jones industrial average also blazed upward, racking up its second-biggest point gain in history. It climbed 402.63 points, or 4.23 per cent, to 9,918.05. The broader Standard & Poor's 500 Index rose 48.21 points, or 4.37 per cent, to 1,151.46, as the stock market shot higher amid heavy trading volume.