NEW YORK -- Wall Street is getting a little daring once again. Investors shook off weak economic readings Thursday and placed bets on retail and technology stocks after several companies posted better-than-expected sales and profit reports. The major indexes gained more than 1 percent, including the Dow Jones industrial average, which rose 106 points.

The technology-laden Nasdaq composite index led the major market indicators after Akamai Technologies Inc. said its fourth-quarter earnings rose a better-than-expected 13 percent as more customers signed up for its Internet traffic-management services.

The reports helped the market overcome a flurry of bad economic news. Factory orders fell for the fifth straight month in December. However productivity rose by 3.2 percent in the fourth quarter, more than twice what analysts expected.

Investors are bracing for today's January employment report from the Labor Department. The monthly reading is one of the most important economic indicators because rising unemployment cuts into how much consumers spend. Consumer spending accounts for more than two-thirds of U.S. economic activity.

The Dow industrials rose 106.41, or 1.34 percent, to 8,063.07. The Standard & Poor's 500 index rose 13.62, or 1.64 percent, to 845.85, and the Nasdaq composite index rose 31.19, or 2.06 percent, to 1,546.24.

The gains in stocks came as investors again looked to Washington for help on the economy. Wall Street is waiting for a $920 billion economic stimulus plan to pass the Senate.

Leaders preparing for global competition

HARTFORD -- Connecticut business, education and state leaders will gather to discuss the state's ability to compete in the global economy from 8 to 10:50 a.m. today in Room 2A of the Legislative Office Building, 300 Capitol Ave.

In addition to appearances by state lawmakers, the roundtable will feature three panel discussions. Their topics will be leadership for Connecticut's success in a global economy, preparing a globally competent work force, and preparing the state's "Millennial Generation."

The World Affairs Council of Connecticut is organizing the event. For more information, contact the council at (860) 241-6118 or visit www.ctwac.org.

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