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Higher earnings push US stocks higher; Microsoft and other technology stocks lead the way
NEW YORK, N.Y. – Earnings gains from big U.S. companies are pushing the stock market higher.
Microsoft led the Dow Jones industrial average up after reporting a jump in sales of tablet computers.
The Dow rose 61 points, or 0.4 per cent, to close at 15,570 Friday.
The Standard & Poor’s 500 rose seven points, 0.4 per cent, to 1,759, another record high. The S&P also closed at a record high Tuesday.
The Nasdaq composite rose 14 points, or 0.4 per cent, to 3,943.
Technology stocks were among the biggest gainers.
Microsoft rose $2.01, or 6 per cent, to $35.73 after beating analysts’ forecasts for revenue and earnings. The company is shifting from PC-based software to devices and services.
Three stocks rose for every two that fell on the New York Stock Exchange. Volume was average.
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