US stocks rose on Friday on better-than-expected results from companies, including American Express and Schlumberger, as economic data raised hopes the economic cycle may have hit a trough. Struggling automaker Ford Motor Co was among the bright spots in a busy week for earnings reports, saying on Friday it was on track to at least break even in 2011.
While credit card company American Express Co reported results late on Thursday that beat Wall Street's expectations. Shares of American Express popped up almost 16 percent and gave the biggest boost to the Dow. Energy shares also climbed as the price of oil rose back above $51 a barrel and results from top oilfield services company Schlumberger Ltd beat expectations.
Software giant Microsoft Corp gave the biggest lift on the Nasdaq, up 8.3 percent at $20.49, after investors cheered cost-cutting efforts and appeared to be relieved that the release of its Windows 7 operating system was on track, overlooking a fall in profits. The Dow Jones industrial average gained 133.73 points, or 1.68 percent, to 8,090.79. The Standard & Poor's 500 Index added 15.47 points, or 1.82 percent, to 867.39. The Nasdaq Composite Index rose 40.74 points, or 2.47 percent, to 1,692.95.
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