New York--Jan. 18--The Nasdaq surged 3% and the broader market rallied smartly after some major technology stocks issued bullish profit outlooks. Investors also cheered weaker-than-expected economic data, which signaled the Federal Reserve might cut rates by 50 basis points later this month. The Nasdaq closed up 85.68, or 3.19%, to 2768.46 and the Dow was up 93.94, or 0.89%, to 10,678.28. The S&P 500 was up 18.50, or 1.39%, to 1347.97.