Stock prices rallied in moderate afternoon trading, helped by program trading and a sharp boost in technology stocks. The Dow Jones average of 30 industrials was up 30.63 points to 2,636.94 at 2 p.m. EST. The blue-chip indicator was down 0.45 point at noon and more than 20 points shortly after the opening bell. Advancing issues overpowered losers by a margin of about 7 to 5 on the New York Stock Exchange, with 815 issues up, 571 down and 481 unchanged. Volume on the Big Board came to 123.61 million shares. Analysts said high technology stocks helped revive the blue chip sector after a morning lull. Weakness in the bond market had pressured stocks in earlier trading. ``IBM is leading on the upside,'' said Dennis Jarrett, technical analyst for Kidder, Peabody & Co. ``It's just a case where people expect the market to pop.'' Analysts attributed the market's earlier weakness to ongoing worries about the Treasury's quarterly refunding and concerns about whether yields would have to be forced higher to attract Japanese investors. Foreign investors, particularly the Japanese, are an important source of funds into U.S. credit markets. The three-part auction, which started Tuesday with the sale of $10 billion in three-year notes, continued today with the sale of $10 billion in 10-year notes. The final auction on Thursday will comprise $10 billion of 30-year Treasury bonds. The NYSE's composite index of all its listed common stocks was up 1.51 at 183.84. At the American Stock Exchange, the market value index was 1.06 higher at 355.80. Among actively traded issues on the NYSE, IBM had jumped 2{ to 103{, Baxter International was up } to 24, Haliburton had gained 2&rsqb; to 44} and Federal National Mortgage was up 1&lsqb; at 34&lsqb;.
