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Dow ends up 23 despite Microsoft earnings | |
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| Time: 19:21 EST/00:21 GMT | News Source: Business Week Online | Posted By: Andre Da Costa | ||
|
JUL. 22 7:02 P.M. ET Wall Street eked out modest gains Friday to finish the week higher, overcoming tepid earnings from Microsoft Corp. and a fresh surge in crude oil futures to extend Wall Street's rally for a fourth consecutive week. Microsoft's after-hours earnings report Thursday initially failed to provide any lift, while the jump in oil prices also stymied trading for much of the session. A barrel of light crude was quoted at $58.64, up $1.51, on the New York Mercantile Exchange. Yet investors' optimism, buoyed by generally strong earnings throughout the week, asserted itself in late trading and produced modest gains for the major indexes. Maintaining that optimism, however, with stocks near four-year highs, will be difficult in the days ahead. | ||
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