Stocks move higher as strong tech earnings help positive tone

|By:, SA News Editor

Stocks edged higher, with the S&P closing strong to notch a new record high, as factory goods orders rose more than expected and some tech heavyweights posted strong Q3 results.

Amazon jumped 9% after delivering a narrower than expected loss in its latest quarter, Microsoft climbed 6% on double-digit revenue growth, and Zynga rose 5.5% as revenue topped estimates and cost fell.

Durable goods orders rose but fell excluding aircraft, and October consumer sentiment took a hit from the government shutdown.

Treasurys rose, as the economic reports supported speculation that the Fed would be in no rush to trim its bond purchases.