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Tech earnings drive stocks up; Microsoft leads Dow

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October 25, 2013 11:50 AM EST | AP


NEW YORK (AP) — Earnings gains from big U.S. companies are pushing the stock market higher.

Microsoft led the Dow Jones industrial average higher after reporting rising sales of tablet computers.

The Dow was up 29 points, or 0.2 percent, at 15,538 as of noon Eastern time Friday.

The Standard & Poor's 500 was up two points, or 0.2 percent, at 1,754. The S&P is at a record high.

The Nasdaq composite was up 10 points, or 0.3 percent, to 3,939.

Technology stocks were among the biggest gainers.

Microsoft rose $2.36, or 7 percent, to $36.09 after beating analysts' forecasts for revenue and earnings. The company is shifting from PC-based software to devices and services.

Amazon.com jumped $34.86, or 10 percent, to $366.90 after reporting a 24 percent jump in revenue.