Market continues to rise

AN upgrade of software leader Microsoft and strength in blue chips including Hewlett-Packard and Home Depot were among the factors pushing stocks higher at midday yesterday, with the Dow Jones industrial average spending time above the 9,000 level.

At around 11:40am ET, the Dow Jones gained 65.06 to 9,022.09, continuing a more than 1,300-point resurgence since July 23.

The Nasdaq composite gained 9.12 to 1,418.37. The Standard & Poor’s 500 index rose 9.61 to 958.97.

”Major indexes are up across the board,” said Peter Cardillo, director of research at Global Partners Securities. ”The Microsoft upgrade certainly helps, as does the absence of bad economic news. Also, oil prices are retreating a little, the dollar is up and a little money is coming out of Treasuries and into equities.”

Market breadth was positive. On the New York Stock Exchange, advancers beat decliners 3-to-2 as 561 million shares traded. On the Nasdaq, winners edged losers as 785 million shares changed hands.