Technology shares surge in early trade; Amazon, Microsoft up

Source: AP

By ALEX VEIGA

U.S. stocks moved sharply higher in early trading Friday after several big-name technology companies reported strong quarterly earnings. The gains put the Standard & Poor's 500 index back into positive territory for the year following a market swoon in August and September.

KEEPING SCORE: The Dow Jones industrial average rose 139 points, or 0.8 percent, to 17,628 as of 10:12 a.m. Eastern time. The Standard & Poor's 500 index added 21 points, or 1.1 percent, to 2,073. The Nasdaq, which is heavily weighted with technology stocks, gained 97 points, or 2 percent, to 5,017.

TECH WINS: Microsoft, Amazon and Google's parent company Alphabet all notched gains a day after the three tech giants reported surprisingly strong quarterly results. Microsoft jumped $5.15, or 10.7 percent, to $53.18, while Amazon gained $39.94, or 7.1 percent, to $603.85. Alphabet climbed $56.52, or 8.3 percent, to $737.66.

CHARGING AHEAD: Shares in Capital One Financial rose 6.6 percent. The credit card issuer and lender reported third-quarter earnings late Thursday that came in ahead of Wall Street's expectations. The stock added $4.96 to $79.90.

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