US stocks move higher as more companies report earnings gains; Microsoft, UPS rise

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NEW YORK — Stocks are rising in midday trading as U.S. companies report more earnings gains.

UPS and Microsoft rose after reporting earnings that were higher than analysts were expecting. Procter & Gamble rose after saying it would make its Duracell battery business a stand-alone company.

The Dow Jones industrial average rose 84 points, or 0.5 percent, to 16,762 as of 11:55 a.m. Eastern time Friday. The Dow jumped 216 points the day before.

The Standard & Poor's 500 index rose eight points, or 0.5 percent, to 1,959. The Nasdaq composite rose 17 points, or 0.4 percent, to 4,470.

Crude oil fell 99 cents to $81.12 a barrel in New York.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.26 percent.

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