Amazon ( AMZN) was the big winner on Friday, surging nearly 16% after its blowout quarter. More than half of the components of the S&P 500 have reported their numbers now with nearly 73% of companies exceeding Wall Street's consensus view, according to Thomson Reuters. The year-over-year profit growth rate is running above 7%, better than the flat performance that analysts were expecting. The Dow Jones Industrial Average rose 24 points, or 0.2%, to close at 13,228. The blue chip index ran as high as 13,267. The S&P 500 was rising more than 3 points, or 0.2%, to settle at 1403. The Dow, which is now up in four straight sessions, added 1.5% for the week, while the S&P 500 gained 1.8%. The Nasdaq outperfomed its counterparts with an advance of nearly 19 points, or 0.6%, at 3069. The index, which has benefited from Apple's ( AAPL) massive post-earnings rally, jumped 2.3% for the week with Apple rising 5.2%.
NEW YORK ( TheStreet) -- U.S. stocks finished Friday with polite gains as investors looked past a tepid report on economic growth in the first quarter and concentrated on what's shaping up to be a decent first-quarter earnings season.
2012 Stock Predictions and Outlook
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