Stocks rise on profit gains from Microsoft, others
NEW YORK (AP) — Strong third-quarter results from technology companies drove investors into stocks on Friday, giving the market its third straight weekly gain.
After reporting results that topped expectations, Microsoft rose 6 percent and Amazon.com rose 9 percent. The Standard & Poor’s 500 index hit a record. The Nasdaq is the highest it’s been in 13 years.
The gains were broad. All 10 industry groups in the S&P 500 rose, led by telecommunications with an increase of 1 percent.
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