Stocks edge higher in early trade; Microsoft jumps

US stocks open slightly higher; Microsoft jumps after Ballmer says he will retire as CEO

Associated Press
Stock market closes higher; Microsoft surges
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FILE - In this Tuesday, Aug. 13, 2013, file photo, Trader Frederick Reimer works on the floor of the New York Stock Exchange. Encouraging economic figures from Asia and Europe helped stocks advance and broke a six-day losing streak for the Dow Jones industrial average on Thursday, Aug.22, 2013, though trading on the Nasdaq was interrupted by a technical glitch just after midday. (AP Photo/Richard Drew, File)

NEW YORK (AP) -- Stocks are edging higher in early trading on Wall Street a day after pricing problems shut down the Nasdaq exchange for three hours.

The Nasdaq composite was up 16 points, or 0.5 percent, at 3,655 shortly after the opening of trading Friday.

Other indexes also rose, but not as much. The Dow Jones industrial average was up 24 points, or 0.2 percent, at 14,988. The Standard & Poor's 500 index rose four points, or 0.3 percent, at 1,661.

Microsoft jumped 7 percent to $34.55 after the company said Steve Ballmer would retire as CEO within the next 12 months. The company didn't name a successor.

Interest rates continued to edge higher. The yield on the benchmark 10-year Treasury note rose to 2.90 percent from 2.89 percent.

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