NEW YORK, Oct. 23, 2009 (Xinhua News Agency) -- Wall Street saw a higher open Friday, as investors looked to another round of upbeat earnings reports and awaited the latest data on the housing market.
Microsoft Corp., the world's largest software maker, surged nearly 10 percent after posting a smaller drop in profit than analysts estimated after slashing costs to make up for falling sales. Meanwhile, Amazon.com, the world's largest Internet retailer, posted third-quarter profit that beat analysts' estimates.
Moreover, whirlpool, American Express (NYSE:AXP) and Capital One (NYSE:COF) also released better-than-expected results.
Investors also awaited a report on existing home sales for additional insight to the market's direction. Economists expected a strong September sales as homebuyers rushed to complete their purchases before a tax credit for first-time owners expires. The National Association of Realtors is scheduled to release the report at 10 a.m. EST.
The Dow Jones rose 12.17 to 10093.50. Broader indexes also went higher. The Standard & Poor's 500 index climbed 2.93 to 1,095.84 and the Nasdaq rose 23.33 to 2,188.62.
