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Yellen Triggers Stock Rally; Video Game Name Leads Nasdaq

A wobbly week turned solid Wednesday as comments from Fed Chair Janet Yellen gave markets some predictability on which to bank, sending a broad range of industries higher and many leading stocks to new highs.

The Nasdaq paced out a nice lead, ending ahead 1.1%, with Activision Blizzard (ATVI) leading the charge. The video game maker surged 5%, ending extended after a rebound from support at its 10-week moving average.

The S&P 500 rattled off a 0.7% win, spearheaded by NRG Energy (NRG), which spiked 29% after announcing an extensive restructuring plan, to include $4 billion in asset sales.

The Dow Jones industrial average ended ahead 0.6%, led by DuPont's (DD) 3% gain. JPMorgan (JPM) posted the Dow's sole decline, down 0.3% after Yellen declared interest rate hikes were likely to remain modest.

Shares in solar energy, computer software and gaming were among the session's top performers. Airlines, foreign banks and auto dealers also turned in strong advances.

Only 25 of 197 industry group posted losses for the day, with dairy products, building products and farm equipment all near the bottom of the list.

Nasdaq 100 and IBD 50 name PayPal (PYPL) rose 3% to 56.55 as the stock cleared a flat base with a 55.25 buy point. The strength was fueled by news that Apple (AAPL) now accepts PayPal at its iTunes store.

Also in the IBD 50, Sina (SINA) jumped 5% to 92.22 as it carves a flat base with a 97.79 buy point. Sina owns a stake in Weibo (WB), which rose 5%. Weibo is back above the 50-day moving average as it works on a potential base.

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