(By Mayur Pahilajani - iStockAnalyst Writer)

New York, NY - Investors on Wall Street gained confidence on Monday on global rally in shares as authorities have pledged to use different tools to unfreeze credit markets. Some major stocks in technology sector also got some boost from the overall positive sentiment in the markets.

The market analysts on Wall Street are not expecting an immediate rise in consumer and business spending as the clients will not have sufficient technology budgets even after the credit crisis is over. Experts believe that it will take up to several months for the enterprises, including financial firms, to make funds available to their IT departments for larger upgrades.

However, the financial services sector continues to purchase high-priority products and solutions for efficient trading and to provide services to their clients. Other businesses have cut down on their spending on computers, softwares and communications equipments. Investors will have their eyes on the technology sector as several companies will report results in the next two weeks.

Microsoft Corporation (NASDAQ GS: MSFT), Google Inc (NASDAQ GS: GOOG) and Apple Computer, Inc. (NASDAQ: AAPL) turned bullish. While, Yahoo! Inc (NASDAQ GS: YHOO), Cisco Systems, Inc (NASDAQ GS: CSCO), Texas Instruments Inc. (NYSE: TXN) and Qualcomm Incorporated (NASDAQ: QCOM) were trailing on the index.


Microsoft Corporation (NASDAQ GS: MSFT):



Microsoft is one of the few technology companies that have relatively escaped from the fallout of credit crisis. Shares of the firm gained on reports that the major central banks have agreed to provide unlimited liquidity to the banks to stabilize them and to improve their lending capacity. Microsoft has been busy raising capital to avert the potential fallout from the financial subprime contagion. Microsoft's Board had recently announced a new buyback plan of additional $40 billion in shares in the next five years, after it recently finished a $40 billion stock repurchase program.

Microsoft will present its quarterly report on Oct. 23. The market analysts are expecting that its earnings may rise to 47 cents per share with 7.6 percent sales. The firm is expected to post sales revenue up to $14.8 billion. Shares of the firm gained by $1.98 or 9.22 percent to $23.48 at 10:52am ET in NASDAQ market trading.


Google Inc (NASDAQ GS: GOOG):



The stock turned bullish on Monday as it briefly traded higher at $357.45, after closing at $332 on Friday.