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 lower in midday trade on light action due to the Columbus Day holiday.

The Dow Jones Industrial Average dropped 0.4 percent to 14,015.77, while the Nasdaq Composite was down 0.3 percent to 2,772.26 and the S&P 500 fell 0.5 percent to 1,549.37 ahead of third-quarter results reporting, which begins Tuesday.

Aluminium group Alcoa (NYSE: AA) is scheduled to report first.

ExxonMobil (NYSE: XOM) was down 1.1 percent to $90.39 after crude oil prices fell nearly $2 per barrel in morning trade, while Occidental Petroleum (NYSE: OXY) was $1.22 lower to $65.19 on an analyst downgrade.

In the mining sector, Freeport-McMoRan Copper & Gold (NYSE: FCX) dropped $3.36 to $107.30 on declining copper prices.

In the financial services sector, Merrill Lynch (NYSE: MER) fell $2.07 to $74.60 after it said it lost $5 billion on investments related to mortgages and buyout financing, earning it downgrades to “neutral” from both JPMorgan Chase (NYSE: JPM; TYO: 8634) and Credit Suisse (NYSE: CS; SWX: CSGN).

Google (NAS: GOOG; LSE: GGEA) was up 1 percent to $599.80 after reaching a new record of $601.45 earlier in the session.

The New York equities markets were mixed at midday on Wednesday. The Dow Jones Industrial Average and the S&P 500 were each 0.2 percent lower, to 12,396.81 and 1,409.64 respectively, while the Nasdaq Composite was 0.1 percent higher to 2,445.49.

The oil sector was sent lower by the slide in crude oil prices. Hess dropped 1.1 percent to $47.68, while ExxonMobil fell 1.4 percent to $71.05, and Chevron was 1.7 percent lower to $69.43 after it downgraded its earnings projections for the fourth quarter. ConocoPhillips was down 2.4 percent to $65.89 and Occidental Petroleum fell 3.1 percent to $42.32.

The computer sector was mixed. IBM dropped 1.9 percent to $98.14 on a broker downgrade, but Apple Computer gained 4.6 percent to $97.12 after reaching a new all-time high of $97.80 earlier in the session on excitement about Tuesday’s launch of its new iPhone.

Airlines were higher after US Airways upped its offer for Delta Air Lines to $10.2 billion. US Air added 1.7 percent to $58.86, while Delta was 5.4 percent higher to $1.37.

Aluminium producer Alcoa gained 4.2 percent to $29.71 after its fourth-quarter report showed a profit of 74 cents per share for the quarter, better than earlier estimates of 65 cents per share.

The New York markets were quiet on Monday due to the Columbus Day holiday, and results were mixed. The Dow Jones Industrial Average was 0.1 percent lower at midday to 11,843.72, while the Nasdaq Composite had added 0.4 percent to 2,308.90 and the S&P 500 was virtually flat, up just half a point to 1,350.08. Besides the effect of the holiday, many investors were waiting for new earnings data to come in before committing themselves.

Chicago exchanges were mixed on the day. While the Chicago Mercantile Exchange added 4.5 percent to $513.05 on reports that it was looking at a possible deal with Deutsche Borse, the Chicago Board of Trade dropped 2.7 percent to $134.03 after the London Metal Exchange denied that the two are in discussions about a takeover of the LME.

Commodities stocks were higher. With crude oil prices up, Noble was 2.1 percent higher to $63.17 and Occidental Petroleum gained 1.5 percent to $46.25. Among companies dealing in metals, Alcoa added 2.1 percent to $28.31, while Freeport McMoran was up 2.8 percent to $54.28.

In a related sector, steel makers were up enough to take the S&P Steel Index to its highest level in three months. Nucor added 6 percent to $54.16, while US Steel gained 6.6 percent to $64.52.

In computer-related sectors, internet search engine Google was 1.9 percent higher to $428.64 on an agreement with Sony BMG and Warner Music to stream music videos. Meanwhile, chipmaker Nvidia added 5 percent to $32.48 to take its gains since July to 80 percent.

Labor unit costs that were up 4.9 percent in the second quarter sent the New York equities markets lower at midday on Wednesday. The labor cost inflation was higher than had been expected. Still analysts did not believe that the mornings decline was a sign of an end to the current market rally. The Dow Jones Industrial Average had dropped 0.4 percent to 11,421.25, while the Nasdaq Composite was 1.4 percent lower to 2,175.98 and the S&P 500 had fallen 0.7 percent to 1,303.54.

Crude oil prices were lower, sending oil stocks lower. Sunoco was 3.4 percent lower to $68.78, while Occidental Petroleum dropped 3.9 percent to $48.85.

The semiconductors sector also declined. Intel fell 2.9 percent to $19.42 after it said that it will reduce its payroll by 10 percent, or 10,500 jobs. The news didn’t help other chipmakers, as Nvidia dropped 3.1 percent to $27.62 and Xilinx declined by 4.2 percent to $21.28.

Concerns about interest rates hurt homebuilders. DR Horton was 3.3 percent lower to $21.08 and is down a total of 40 percent since the start of the year. Centex fell 3.7 percent to $48.44.

Ford Motor provided one of the few positive moves of the day, adding 1.6 percent to $8.52 after yesterday’s announcement that its chief executive will be replaced, although he will remain on as executive chairman.

Dropping crude oil prices put investors in a better mood, sending the New York equities markets up at the mid-point of the session on Monday. The Dow Jones Industrial Average gained 0.6 percent to 11,355.13, while the Nasdaq Composite was 0.9 percent higher to 2,159.29. The S&P 500 also added 0.6 percent, to 1,302.33.

Oil prices, which fell after weather forecasters said it was not likely that tropical storm Ernesto would hit any oil facilities in the Gulf of Mexico, sent shares in oil companies lower. Occidental Petroleum was 1.6 percent lower to $52.58, while Valero Energy dropped 2.3 percent to $60.98.

Internet stocks were up on the day. Google and Ebay both advanced after the two companies said that they would collaborate on advertising. Google added 1.6 percent to $379.34, while Ebay was 2.1 percent higher to $25.82. Elsewhere in the sector, Amazon advanced by 3.2 percent to $28.92 on news of a stock buy-back worth $500 million.

In other computer related sectors, chipmaker Intel gained 1.8 percent to $19.23 and Dell Computer added 2.1 percent to $22.21.

Package delivery company FedEx was up 2.1 percent to $101.23 after it reached a provisional agreement for a four-year contract with its pilots’ union over the weekend.

Falling crude oil prices and gains in the retail and homebuilding sectors helped the New York equities markets to gains by the middle of the day on Wednesday after two days of losses. The Dow Jones Industrial Average had climbed 0.6 percent to 11,065.27, while the Nasdaq Composite had added 0.9 percent to 2,181.50 and the S&P 500 was up 0.6 percent to 1,271.15.

The pharmaceuticals sector was up after GlaxoSmithKline said it was considering purchasing Pfizer’s consumer unit if the right price could be reached. This sent shares in Pfizer up 1.1 percent to $24.11. In addition, Abbott Labs gained 1.9 percent to $43.05.

Retailers were up, led by a 3.6 percent gain to $49.31 for Target. In supermarkets, Kroger added 1.9 percent to $20.13, while Supervalu gained 2 percent to $29.39.

After a dismal day on Tuesday, homebuilders were up on the day. DR Horton gained 1.5 percent to $23.75. Pulte, meanwhile, was up 1.9 percent to $28.65.

The chemicals sector was not so fortunate after Deutsche Bank issued downgrades to Dupont and Dow Chemical. Dow was down 0.5 percent to $39.37 and Dupont lost 1.3 percent to $41.64.

While the drop in crude oil prices helped investor sentiment, it did not help the energy sector. Schlumberger and Occidental Petroleum each had lost 1.8 percent by mid-session, to $62.79 and $96.03 respectively.

In much the same way, falling commodities prices sent shares in companies dealing in metals downward. Alcoa was down 2.4 percent to $29.97, while Freeport McMoran dropped 3 percent to $51.22.

The equities markets were up at midday in New York, with a huge boost from the oil sector as crude oil prices once again increased due to concerns about conditions in Nigerian and Iran and further help from miners as raw materials prices continued to rise.

By mid-session the Dow Jones Industrial Average had added 0.5 percent to 11,177.92, the Nasdaq Composite was up 0.1 percent to 2,341.34, and the S&P 500 gained 0.4 percent to 1,300.06.

Among miners and other companies dealing in metals, gold prices near $600 per troy ounce sent Newmont Mining up 1 percent on the day to $53.28 on top of a 1.6 percent gain last week. Aluminium company Alcoa added 1.3 percent to $32.92 in anticipation of its earnings report due after the close today. Alcoa was also helped out by the announcement of a joint venture in China in which it will purchase 70 percent of an aluminium sheet plant as part of a plant to improve sales to automobile manufacturers in Asia.

In the oil sector, oil producers and field service providers saw advances. ExxonMobil gained 1.1 percent to $61.98. Chevron was up 1.6 percent to $59.59. Halliburton and Occidental Petroleum each added 2.2 percent, to $78.94 and $97.25 respectively.

Video rental chain Blockbuster was up 9.8 percent to $4.60 on an upgrade from “hold” to “buy” from Citigroup. Netflix also benefited from the upgrade with a 2 percent rise to $28.09.