laced Nasdaq Composite Index was up 8.18 points, or 0.40 percent, at 2,059.90. "There was an upgrade for the tech sector, but we are also seeing a broad-based rally," said Evan Olsen, head of equity trading at Stephens Inc. Intel rose 2.6 percent to $24.60 after investment bank JPMorgan Chase & Co. upgraded its rating on the U.S. semiconductor sector and raised its recommendations on shares of Intel to "overweight." Cell phone chip maker Qualcomm Inc. was up 1 percent at $36.48. Johnson & Johnson climbed 1.9 percent to $66.86 after Merrill Lynch upgraded its rating on the drug maker's shares to "buy" from "neutral" based on bullish sales expectations and "increased conviction" in earnings growth from Johnson & Johnson's proposed acquisition of Guidant Corp. In economic news, U.S. factory output grew more slowly in February as new orders and hiring intentions eased, an industry survey showed on Tuesday. --More 2219 Local Time 1919 GMT
