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New York - US stocks Friday moved higher as better-than-expected earnings reports from technology giants Microsoft and Amazon kept all three key indices in positive territory.
About 50 minutes into trade, the Dow Jones Industrial Average rose 22.31 (0.14%) to 15,531.52.
The broad-based S&P 500 increased 2.44 (0.14%) to 1,754.51, while the tech-rich Nasdaq Composite Index jumped 18.72 (0.48%) to 3 947.68.
Amazon soared 9.7% and Microsoft 7.4% on results released after the market closed Thursday.
Microsoft bested analyst expectations, reported a 17% rise in profits to $5.2bn and pointed to progress in its transition to a "devices and services" company. The Dow component has come under scrutiny for its comparative weakness in mobile technology products.
Amazon again reported a loss, $41m compared with $274m in the year-ago period. However, revenue surged 24% to $17.1bn, above estimates.
Dow component Procter & Gamble was off 0.9% after earnings grew 8% on higher sales. The company said growth in emerging markets remains fairly strong.
Global package-delivery giant UPS advanced 0.3% after earnings of $1.16 per share exceeded expectations by a penny, even as revenues slightly underperformed.
UPS plans to hire 55 000 seasonal employees to deliver packages during the holiday shopping season, which is compressed this year due to the late Thanksgiving holiday.
Dow component DuPont rose 0.2% after announcing it would spin off its performance chemicals segment.
Eastman Chemical fell 6.5% after projecting full-year earnings of $6.30-$6.40 per share, under the $6.48 predicted by analysts. The company cited higher raw material costs, among other factors.
Bond prices rose. The yield on the 10-year US Treasury slipped to 2.51% from 2.52% Thursday, while the 30-year dipped to 3.60% from 3.61%. Bond prices and yields move inversely.
