Wall Street ends up a day after Nasdaq outage, Microsoft jumps
(REUTERS) - Stocks rose in light trading on Friday, led by a jump in Microsoft shares, as trading took place without interruption a day after the Nasdaq stock exchange suffered an unprecedented, three-hour trading halt.
Microsoft (MSFT.O) shares posted their largest daily percentage gain in more than four years after the head of the world's largest software company, Steve Ballmer, announced he will retire within 12 months.
The stock closed up 7.3 per cent at $34.77 and was the largest contributor to the advance on the three major indexes.
"The big news today is the succession at Microsoft, but beyond that it's pretty quiet," said Mr Dan Veru, chief investment officer at Palisade Capital Management in Fort Lee, New Jersey.