Major Averages Close Firmly Positive, S&P 500 Reaches New Record

(RTTNews) - Stocks moved mostly higher over the course of the trading day on Friday, extending the upward trend seen throughout the past two weeks. The gains lifted the S&P 500 to a new record closing high, while the Nasdaq once again reached its best levels since 2000.

The strength on Wall Street was partly due to a positive reaction to the latest earnings reports, which have drawn increased attention since the end of the government shutdown.

Microsoft (MSFT) and Amazon (AMZN) posted standout gains after reporting their quarterly results, jumping by 6 percent and 9.4 percent, respectively.

With Microsoft helping to lead the way higher, considerable strength was visible in the software sector. The Dow Jones Software Index jumped 2.1 percent to its best closing level in over twelve years.

Along with Microsoft, CA Technologies (CA) and Symantec (SYMC) posted notable gains, advancing by 3.3 percent and 2.5 percent, respectively.

Significant strength also emerged among telecom stocks, as reflected by the 1.2 percent gain posted by the NYSE Arca Telecom Index.

Natural gas, commercial real estate and utilities stocks also saw notable strength on the day, while networking stocks came under considerable selling pressure.

The major averages moved to the upside going into the close, ending the day firmly in positive territory. The Dow rose 61.07 points or 0.4 percent to 15,570.28, the Nasdaq climbed 14.40 points or .4 percent to 3,943.36 and the S&P 500 advanced 7.70 points or 0.4 percent to 1,759.77.

With the gains on the day, the major averages all moved higher for the week. The Dow jumped by 1.1 percent, while the Nasdaq and the S&P 500 climbed by 0.7 percent and 0.9 percent, respectively.