Stocks Rise Before Glitch Halts Nasdaq Trading

Source: Justin Menza / NBC News

Stocks rose strongly on Thursday before a technical glitch led to a halt in trading in Nasdaq securities at about 12:20 p.m. Markets had been rising on encouraging manufacturing data out of the U.S., China and euro zone. But uncertainty persists as to when the Federal Reserve may begin to reduce its monthly bond purchases.

All Nasdaq options markets halted trading due to an equity securities processor issue. The exchange said it is halting all Tape C securities until further notice. “Tape C” are those stocks listed on the Nasdaq or Nasdaq Small Cap exchange. Nasdaq recommends firms route all open orders elsewhere. The NYSE has also halted trading in all Nasdaq securities at the request on Nasdaq. NYSE listed securities continue to trade, according to the NYSE.

The Dow Jones Industrial Average posted a solid gain, its first in seven sessions, led byMicrosoft and AlcoaHewlett-Packard was a drag, down sharply after its earnings report on Wednesday. Despite today’s fall, HPQ is still the best Dow stock this year, with a gain of 55 percent

The S&P 500 and the Nasdaq were surging after recent weakness. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 16.

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