Optimism that Chinese investment will squelch the spread of sovereign default contagion sent stocks shooting to their best levels ofthe day bythecloseoftrading.
Shares ofthe Philadelphia semiconductor index, which tracks the stock performance of a handful of semiconductor companies, was down by 7.6% at thecloseof Monday's trading session.
Kraft Foods, which is spinning off its North American grocery business Oct. 1, will be removed from the 30-stock index after thecloseoftrading Friday Sept. 21 and replaced by UnitedHealth Group.
As a result of all this, there were about 975 securities affected by an overqueuing of message traffic sent to five trading posts on thetrading floor, which resulted in a late close for those posts.