IBM and Microsoft drove the Dow Jones industrial average higher Friday after the tech giants reported stronger earnings than analysts expected.
Microsoft said sales of Xbox games and Office software helped push revenue up in the last quarter of 2011. IBM credited better sales of software and services and raised its earnings outlook for the year. Microsoft rose 6 percent and IBM rose 4 percent.
The Dow Jones industrial average rose 96.50 points, or 0.8 percent, to close at 12,720.48.
The Standard & Poor's 500 index gained 0.88 points, or 0.07 percent, to 1,315.38.
The Nasdaq composite index fell 1.63 points, or 0.06 percent, to 2,786.70.
For the week:
The Dow is up 298.42, or 2.4 percent.
The S&P 500 is up 26.29, or 2 percent.
The Nasdaq is up 76.03 or 2.8 percent.
For the year to date:
The Dow is up 502.92, or 4.1 percent.
The S&P 500 is up 57.78 points, or 4.6 percent.
The Nasdaq is up 181.55 points, or 6.9 percent.
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