32° Good Afternoon
32° Good Afternoon

Wall Street rebounds with help from tech shares

Strong earnings from a pair of technology giants helped the stock market recover some of its losses Friday, a positive end to Wall Street's worst week in five months.

Microsoft and Google both beat earnings expectations, yields of government bonds ticked up and copper -- a key industrial metal -- continued its fall, losing 2 percent.

Microsoft gained 3.39 percent to $29.76, leading the Dow Jones industrial average higher. The software giant reported earnings late Thursday that beat analysts' forecasts and showed solid results from its Office, software tools and Xbox divisions.

Google's stock climbed 4.43 percent to $799.87. The leader in Internet search boosted prices for ads distributed to smartphones and tablet computers.

The Standard & Poor's 500 index was up 0.88 percent to 1,555.25. The Dow Jones industrial average rose 10.37 points to 14,547.51, after spending most of the day down, pulled lower by disappointing results from IBM. The Nasdaq composite index was up 1.25 percent to 3,206.06. Both the S&P 500 and the Dow lost 2.1 percent for the week.

During Friday's session, traders, like everyone else, were following the news out of Boston, where police were hunting for one of two brothers suspected to be behind Monday's Boston Marathon bombings. But the news had no impact on markets, traders said. -- AP

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