Street Stocks Rise Broadly NEW YORK, August 17

Wall Street stocks rose broadly Thursday as investors becameconfident that the technology shares will have a good performancefor the rest of the year despite the slowing economy.

The Dow Jones industrial average rose 47.25 at 11,055.64 points,bouncing back from a drop of 58.61 points Wednesday and 109.14points Tuesday.

Broader stock indicators were also higher. The technology heavyNasdaq composite index rose 79.67 points at 3,940.87 and theStandard & Poor's 500 index rose 16.22 points at 1,496.07.

Stocks rose after telecommunications parts maker Ciena Corp.announced that its fourth-quarter earnings will beat Wall Streetanalysts' expectations because of strong demands for fiber-opticparts.

The announcement gave an across-the-board boost to Internet andtelecom equipment companies. Intel Corp., Applied Materials andAmtech Systems rose, leading the Nasdaq's advance.

The market was hit in the past few days because investors fearedthat while a slowing economy will prevent the Federal Reserve fromraising interest rates, it also raises the specter of lowercorporate profits in the second half of 2000.

Investors were apparently in the buying mood for other reasonstoday. The Labor Department reported Thursday that new claims forunemployment benefits rose for a third straight week, providing moreevidence that the U.S. economy is slowing.

The Federal Reserve was widely expected to leave the rates aloneat the policy-making meeting next week. The central bankers haveraised rates six times in the past 14 months in an effort to cooloff the economy and prevent inflation from rising.

The Dow's rise came in spite of a selloff in Hewlett-Packard Co.The computer maker, which is the Dow component, reported lacklustersales of servers.

The NYSE index rose 4.94 at 671.19 and the American StockExchange index rose 6.47 at 914.55. The Russell 2000 index ofsmaller companies rose 3.72 at 516.46.

Advancing issues outnumbered decliners by a 4-to-3 margin on theNew York Stock Exchange, with 1,615 up, 1,244 down and 528unchanged.

NYSE volume declined to 900.91 million shares from 926.79 millionin the previous session.