Wall Street was on the rebound at midday on Friday.

The Dow Jones Industrial Average was up 0.52 percent to 13,743.45, while the Nasdaq Composite was 1.29 percent higher to 2,786.34 and the S&P 500 added 0.78 percent to 1,526.26.

The Nasdaq was helped by Microsoft’s (NAS: MSFT) quarterly report, which was released late Thursday.

Microsoft added 9.2 percent to $34.93 after it reported that profits were up 23 percent in its fiscal fourth quarter.

Sales were up 27 percent over the same period last year on success with Windows, Office, and its new “Halo 3” computer game.

The oil sector saw gains as crude oil prices continued in record territory.

Oilfield services group Schlumberger (NYSE: SLB) added 1.7 percent to $99.77, while Occidental Petroleum (NYSE: OXY) was up 2.9 percent to $71.05.

In the financial services sector, Countrywide Financial (NYSE: CFC) added 17.1 percent to $15.29 even though it had losses of over $1 billion in the third quarter as it said it would cut jobs and return to profit in the fourth quarter.

Elsewhere in the financial sector, Merrill Lynch (NYSE: MER; TYO: 8675) gained 4.5 percent to $63.65 on reports that it’s chief executive might soon be replaced.

There are rumors that CEO Stan O’Neal was in talks about a merger with Wachovia (NYSE: WB) that he did not reveal to the board of directors.

Wall Street was higher in midday trade as investors remained enthusiastic about the interest rate cut issued by the Federal Reserve last week and ahead of home sales data and a regional manufacturing survey due later in the week.

The Dow Jones Industrial Average was up 0.14 percent to 13,839.94, while the Nasdaq Composite had added 0.53 percent to 2,685.51 and the S&P 500 was 0.71 percent higher to 1,526.46.

Carmakers were higher even though the United Auto Workers initiated a strike against General Motors (NYSE: GM).

GM gained 17 cents to $35.10, while Ford Motor (NYSE: F) was up 22 cents to $8.45 after its CEO said that it is talking with possible buyers for its Land Rover and Jaguar brands.

Technology shares were higher.

Apple (NAS: AAPL; LSE: ACP; FWB: APC) hit an all-time high of $149.85 and was trading $4.85 higher to $149 just past midday.

Internet search engine Google (NAS: GOOG; LSE: GGEA) also reached a new record high share price of $571.46 and was trading at $567.96 later in the session, a gain of $7.86.

Microsoft, meanwhile, was 83 cents higher to $29.48 ahead of the release of its “Halo 3” video game, due Tuesday.

Shares of solar power-related companies were higher as a solar power conference opened in Long Beach, California.

SunPower Corp (NAS: SPWR) added $2.14 to $86.01 on positive comment, while Power-One Inc. (NAS: PWER) gained 25 cents to $4.92 after it introduced a new photovoltaic inverter for large commercial solar systems.

Wall Street was higher in midday trade ahead of the Federal Reserve’s decision on interest rates, due at mid-afternoon New York time.

The Dow Jones Industrial Average was 0.61 percent higher to 13,485.52, while the Nasdaq Composite added 0.55 percent to 2,595.83 and the S&P 500 gained 0.71 percent to 1,487.19.

The Labor Department reported that producer prices were down by 1.4 percent overall in August, while core inflation, which removes food and energy costs from the equation, was up 0.2 percent.

The overall decline was the biggest in 10 months, led by energy costs that were 6.6 percent lower.

Lehman Brothers (NYSE: LEH) added $1.72 to $60.34 after it said its profits in the third quarter were down by 3 percent compared to the same period last year, less of a drop than had been expected.

Also reporting was Best Buy (NYSE: BBY).

The consumer electronics retailer said its profits were up 8.7 percent, better than expected sending shares up 4.2 percent to $46.41.

Construction machinery maker Caterpillar (NYSE: CAT) gained $1.38 to $75.07 after an analyst said that it would likely meet its goal of $3 billion sales in China by 2010.

General Motors (NYSE: GM) dropped 18 cents to $34.05 as talks with the United Auto Workers continued but the union told members that it might have to impose a deadline on negotiations if progress is not made in relation to several unresolved issues.

The union wants job security guarantees for workers in return for concessions on wages and a health care fund.

Microsoft (NAS: MSFT) dropped another 37 cents to $28.36 on the EU court ruling that went against the software company on Monday.

Boeing (NYSE: BA; TYO: 7661) was $1.57 lower to $97.07 after Banc of America (NYSE: BAC; TYO: 8648) dropped its target share price on the aerospace group from $131 to $114 on developments risks in relation to its 787 Dreamliner aircraft.

Wall Street was lower in midday trade on Monday.

The Dow Jones Industrial Average was down 0.4 percent to 13,389.36, while the Nasdaq Composite fell 0.9 percent to 2,578.74 and the S&P 500 was 0.66 percent lower to 1,474.52.

Investor uncertainty ahead of tomorrow’s interest rate decision from the Federal Reserve and before several brokers release their quarterly results later in the week.

Brokerages declined ahead of results, with Lehman Brothers (NYSE: LEH) 87 cents lower to $58.64.

Morgan Stanley (NYSE: MS) dropped $1.75 to $64.36, Merrill Lynch (NYSE: MER; TYO: 8675) was down $2.10 to $72.55, and Goldman Sachs (NYSE: GS) fell $3.32 to $187.27.

Most chipmakers were lower on the session.

The main exception was Advanced Micro Devices (NYSE: AMD), which added 10 cents to $12.79 by midday after an upgrade to “neutral” from “underweight” from JP Morgan (NYSE: JPM; TYO: 8634).

Texas Instruments (NSYE: STM) dropped 1 cent to $34.67, while Intel (NAS: INTC; SEHK: 4335) was 9 cents lower to $24.84. Broadcom (NAS: BRCM) fell 70 cents to $34.80, while US-traded shares of STMicroelectronics (NSYE: STM; Euronext: STM) were down 58 cents to $16.11.

After a European Union court dismissed Microsoft’s (NAS: MSFT) appeal of a EU antitrust ruling and upheld the fine issued with the ruling, the software giant dropped 37 cents to $28.67.

Wall Street was mixed Thursday, with the Nasdaq higher but the Dow and S&P in decline.

By the end of the session, the Nasdaq managed to hold on to some gains, ending 0.08 percent higher to 2,565.30, while the Dow ended 0.38 percent lower to 13,238.73 and the S&P 500 closed at 1,457.64, a decline of 0.42 percent.

Research in Motion (NAS: RIMM; TSX: RIM), maker of the BlackBerry, added $1.05 to close at $82.87 on new rumors that Microsoft (NAS: MSFT) could be interested in making a bid. Microsoft dropped 14 cents to $28.45.

Cisco Systems (NAS: CSCO) closed up 43 cents to $31.43, while IBM (NYSE: IBM) gained 80 cents to $115.37 and Apple (NAS: AAPL) was up $2.17 to $136.25.

In the retail sector, Wal-Mart (NYSE: WMT) dropped 87 cents to close at $43.32 after Merrill Lynch (NYSE: MER; TYO: 8675) used worries about operating margins to cut its recommendation on the discount retailer from “neutral” to “sell”.

Home improvement retailers, however, were higher on the session. Lowe’s (NYSE: LOW) was up 12 cents to $30.27, while Home Depot (NYSE: HD) added 49 cents to $37.04.

Wall Street was higher in early afternoon trade Thursday, with the Dow Jones Industrial Average 0.36 percent higher to 13,413.01.

The Nasdaq Composite had added 0.62 percent to 2,569.81, while the S&P 500 was up 0.21 percent to 1,468.94.

In the media sector Viacom (NYSE: VIA, VIAb), which owns MTV
and Nickelodeon cable channels and Paramount Pictures, added 1.8 percent to $38.69 on a quarterly report that was better than had been anticipated.

Pharmacy chain CVS Caremark (NYSE: CVS) also issued a better than expected report and gained 3.6 percent to $45.54.

Microsoft (NAS: MSFT) gained 1.1 percent to $29.61 on the announcement that is renewed a font licensing agreement with Apple (NAS: AAPL; LSE: ACP; FWB: APC), which was 0.16 percent higher to $135.21.

In mergers and acquisitions news, Fiserv Inc (NAS: FISV) added 0.5 percent to $49.41 on the news that it will purchase electronic payment company CheckFree Corp (NAS: CKFR), which was 24 percent higher to $45.54.

Banks were slightly higher, with Bank of America (NYSE: BAC) adding 0.15 percent to $47.70 and Citigroup (NYSE: C) gaining 0.71 percent to $46.64.

But Accredited Home Lenders Holding Co (NAS: LEND) dropped nearly 40 percent to $4.97 after the subprime lender said it might not be able to stay in business.

In early afternoon trade on Friday Wall Street saw steep declines a day after the Dow Jones Industrial Average closed above the 14,000 level for the first time in history.

The Dow was down 1.26 percent to 13,824.34, while the Naasdaq Composite fell 1.41 percent to 2,681.56 and the S&P
500 was 1.24 percent lower to 1,533.81.

Disappointing quarterly reports and more concerns about the housing market and subprime mortgages drove the declines.

In the internet sector, Google (NAS: GOOG) dropped 5.7 percent to $517.53 after it reported that earnings were lower in the quarter on higher operating expenses and the adding of employees.

Microsoft’s (NAS: MSFT)report headlined higher earnings but bad news on the sale of personal computers sent shares 1.7 percent lower to $$30.98.

Construction machinery maker Caterpillar (NYSE: CAT) fell 8.4 percent to $79.70 after it reported that earnings dropped on declines in truck engine sales and a decline in construction in North America.

Construction woes hit homebuilders as well, sending the Dow Jones US Home Construction Index 3.3 percent lower to 516.91, its lowest level since October 2003, on predictions that the US housing market will be in the doldrums well into next year.

Pulte Homes (NYSE: PHM) dropped 2.8 percent to $21.78, while Centex (NYSE: CTX) was 3.9 percent lower to $41.73.

Comments from the President of the St. Louis Federal Reserve that the mess in the subprime mortgage sector was big enough to affect the housing markets and consumer spending sent shares in banks lower.

Citigroup (NYSE: C) had gone higher on a positive quarterly report, but dropped 1.3 percent to $50.45 on subprime concerns.

Bank of America (NYSE: BAC) was also lower, down 1.77 percent to $48.40 despite a 5 percent gain in earnings in the most recent quarter after it also increased provisions for losses from bad loans.

Wall Street was higher in early afternoon trade on Thursday.

The Dow Jones Industrial Average was 0.51 percent higher to 13,988.95, while the Nasdaq Composite had added 0.81 percent to 2,721.3 and the S&P 500 was up 0.43 percent to 1,552.85.

Earnings news was in focus as IBM (NYSE: IBM) and Juniper Networks (NAS: JNPR) both reported.

IBM said that second quarter profits were up with help from its software division and services business.

It also raised its profit forecast for this year, sending shares up $4.74 to $115.82.

Network equipment manufacturer Juniper, meanwhile, also said profits rose in the second quarter and upped its earnings outlook for the full year, adding $3.24 to $29.97.

Elsewhere in the computer sector, Hewlett-Packard (NYSE: HPQ) added $1.57 to $48.71.

Google (NAS: GOOG; LSE: GGEA), Microsoft (NAS: MSFT), and Advanced Micro Devices (NYSE: AMD) were all scheduled to report after the close of trade on Thursday.

Google was $2.30 lower to $547.20, but Advanced Micro Devices was up 27 cents to $15.73 and Microsoft had added 57 cents to $31.49.

The internet sector was lower.

Ebay (NAS: EBAY) was down 53 cents to $33.52 after it did not change its full-year outlook. Meanwhile, Yahoo (NAS: YHOO) dropped 14 cents to $26.06.

In New York on Wednesday, early afternoon saw the equities markets lower, but the declines were not as large as those elsewhere in the world. The Dow Jones Industrial Average had dropped 0.23 percent to 12,048.72, while the Nasdaq Composite was 0.07 percent lower to 2,348.93 and the S&P 500 had fallen 0.09 percent to 1,376.77.

Stocks in financial sectors continued to decline on worries about the subprime mortgage sector. Bear Stearns (NYSE: BSC) was 2.3 percent lower to $139.73 ahead of a profits report due to be released Thursday. Lehman Brothers (NYSE: LEH) released results that were about where analysts had expected them to be, but when it said that profits had been limited somewhat by weakness in the subprime sector it still fell 3.7 percent to $69.34.

General Motors (NYSE: GM) dropped 2.4 percent even though it reported that it had seen improvements in its automobile manufacturing but that the results included two months of weak performance from its Gmac financial arm that GM sold last year.

In the retail sector, Target (NYSE: TGT) was 3 percent lower to $58.65 and JC Penney (NYSE: JCP) fell $3.5 percent to $77.43 on shaky investor confidence concerning consumer spending.

In the software sector, Microsoft (NAS: MSFT) was 1.7 percent higher on the announcement that it will buy Tellme Networks, a privately held company that deals in voice-recognition technology.

The New York equities markets were higher this week despite declines for the Dow Jones Industrial Average and the Nasdaq by afternoon on Friday. The Dow was up 1.3 percent for the week, to 112,748.26, while the Nasdaq had added the same percentage, to 2,490.13 despite dropping 0.2 percent on the session to mid-afternoon. Meanwhile, the S&P 500 was 1.1 percent higher for the week to 1,453.27.

The numbers were helped in the latter half of the week by Federal Reserve chairman Ben Bernanke’s comments before the US Congress, where he said that the nation’s economy continues to grow although at a more modest rate than previously. Investor sentiment took a downturn on Friday, however, after new data showed that fewer new homes were built in January than had been anticipated.

The Commerce Department figures on homebuilding sent the S&P Homebuilders index 0.6 percent lower, and DR Horton saw its shares drop 0.9 percent to $28.04.

The Nasdaq was hurt by comments from Mircosoft chief executive Steve Ballmer that analysts’ estimates of revenues to be gained from its new Windows Vista operating system were “overly aggressive”. Microsoft dropped 2.4 percent to $28.77, having now lost a total of 6.8 percent since Vista was launched.

Alcoa was 6.1 percent higher to $34.56 on the news that BHP Billiton and Rio Tinto were preparing separate bids for the aluminium producer. The news helped rival aluminium group Alcan add 5.3 percent to $54.53.

Bids speculation also helped Anheuser-Busch, which gained 2 percent to $51.04 on a report that it is talking merger with Belgium’s InBev.