News Summary: Tech earnings push stocks up

AP News
Posted: Jul 19, 2012 4:53 PM
News Summary: Tech earnings push stocks up

NEW YORK (AP) — TECH EARNINGS: Strong earnings from IBM and other technology companies nudged the stock market higher Thursday, but a trio of weak economic reports kept the gains in check.

BIG BLUE: IBM surged 4 percent after it posted a jump in profits late Wednesday. Big banks and financial firms were mostly lower, following poor earnings from American Express and Morgan Stanley.

THE INDEXES: The Dow Jones industrial average rose 34.66 points to close at 12,943.36 on Thursday, the third straight day of gains. The Standard & Poor's 500 index gained 3.73 points to 1,376.51.