Microsoft and IBM Push Dow Up, Google Falls

By: Associated Press
By: Associated Press

New York, NY (AP) - Microsoft and IBM drove the Dow Jones industrial average up after the tech giants reported stronger earnings than analysts had expected.

The Dow rose 97 points Friday to close at 12,720. That's a gain of 0.8 percent.

The S&P 500 index inched up 1 point to 1,315.

An earnings miss by Google caused its stock to plunge 8 percent, pulling down the Nasdaq. The Nasdaq fell 2 to 2,786.

All three major indexes still ended the week with gains of 2 percent or more. The S&P 500 has closed higher on 11 of the past 13 days and is now up 4.6 percent for the year.

Roughly four stocks rose for every three that fell on the New York Stock Exchange. Trading volume was below average at 3.9 billion shares.

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