US stocks jump as Microsoft and other tech stocks rise

NEW YORK (AP) — U.S. stocks climbed early today, led by a big gain in technology companies after Microsoft posted a strong fourth quarter, as did Visa and MasterCard.

Global stock indexes also rose. Asian stocks rose after Japan's central bank announced more aggressive moves to stimulate that country's economy.

The Dow Jones industrial average rose 263 points, or 1.6 percent, to 16,332 as of 12:30 p.m. Eastern time. The Standard & Poor's 500 index added 30 points, or 1.6 percent, to 1,923. The Nasdaq composite picked up 65 points, or 1.4 percent, to 4,571.

Microsoft added $2.91, or 5.6 percent, to $54.97 after its fourth-quarter profit and revenue beat expectations. The company posted strong results from its cloud computing business and the unit that sells PC software and Surface tablets and Xbox gaming consoles.

The e-commerce company Amazon said its profit more than doubled, but it still fell short of Wall Street forecasts because of increased costs. Some of those related to its Fulfillment by Amazon service, which handles shipping for sellers and makes them eligible for Amazon Prime shipping. The stock lost $52.38, or 8.2 percent, to $582.97.