MENU

Stock market closes higher; Microsoft surges

August 23, 2013 • Business


FILE – In this Tuesday, Aug. 13, 2013, file photo, Trader Frederick Reimer works on the floor of the New York Stock Exchange. Encouraging economic figures from Asia and Europe helped stocks advance and broke a six-day losing streak for the Dow Jones industrial average on Thursday, Aug.22, 2013, though trading on the Nasdaq was interrupted by a technical glitch just after midday. (AP Photo/Richard Drew, File)

NEW YORK (AP) — A big jump in Microsoft helped lift the Dow Jones industrial average Friday.

Microsoft had its biggest gain in four years after CEO Steve Ballmer said he will retire. Ballmer took the helm of the software company from founder Bill Gates in 2000. The company has struggled to adapt as consumers switch from desktop computing to mobile devices

The giant software company is part of the 30-member Dow and its surge contributed more than a third of the index’s advance.

The Dow closed up 46.77 points, or 0.3 percent, at 15,010.51. The index closed down 0.5 percent for the week and is 3.2 percent lower for the month.

Stocks have sagged in August on concerns that the Federal Reserve will start to pull Login to read more

Related Posts

Comments are closed.

« »