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NEW YORK (CNNMoney)
Amazon (AMZN, Fortune 500) posted a loss but sales were much better than forecasts. Amazon's shares soared more than 10% in early trading. Microsoft (MSFT, Fortune 500) easily topped estimates for sales and profits. Microsoft's stock shot up more than 7%.
Even Zynga (ZNGA), the troubled online video game company, surprised Wall Street by reporting losses that were slimmer than expected, sending shares up more than 10%.
Related: Amazon trumps Wall Street predictions
Tech stocks helped pushed all three indexes modestly higher. The Nasdaq gained the most, up roughly 0.7%. The tech-heavy index is now within striking distance of 4,000, a level it last hit in September 2000.
The Dow and the S&P 500 rose about 0.3%.
The three indexes are on track to close the week higher.
Investors have been pleased by earnings reports, but they also remained convinced that the Federal Reserve will delay winding back its massive bond-buying program. The Fed has a policy meeting next week and is widely expected to say it will continue buying $85 billion in bonds and mortgage-backed securities a month.
Consumers less confident? The University of Michigan's October reading on consumer confidence fell far below expectations and was also below September's levels.
Still, UPS (UPS, Fortune 500) is confident that consumers will be shopping in force over the holidays. The shipping giant predicted a robust holiday season, which sent shares higher. The company also reported quarterly income that exceeded forecasts. Earlier this week, UPS rival FedEx (FDX, Fortune 500) said it thought that Cyber Monday, the first Monday after Thanksgiving, will be its busiest day ever.
Related: Fear & Greed Index continues to show greed is good
Twitter's IPO is coming soon: Twitter revealed late Thursday that it plans to raise upwards of $1.4 billion in its initial public offering, selling 70 million shares at between $17 and $20 per share. At the high end of that range, Twitter would be worth nearly $11 billion.
European markets were mostly higher in afternoon trading, with modest gains after the U.K.'s third quarter GDP report met expectations. Stocks in Asia were hit by a weaker yen and concerns over tighter liquidity in China. 
First Published: October 25, 2013: 9:47 AM ET
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