Tech earnings drive stocks up; Microsoft leads Dow

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Trader Michael Zicchinolfi, right, works on the floor of the New York Stock Exchange, Friday, Oct. 25, 2013. (AP Photo/Richard Drew)

Trader Michael Zicchinolfi, right, works on the floor of the New York Stock Exchange, Friday, Oct. 25, 2013. (AP Photo/Richard Drew)

NEW YORK (AP) — 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 percent, to close at 15,570 Friday.

The Standard & Poor’s 500 rose seven points, 0.4 percent, 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 percent, to 3,943.

Technology stocks were among the biggest gainers.

Microsoft rose $2.01, or 6 percent, 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.

 

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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