Microsoft stock slips as earnings beat Street, but revenue doesn't

U.S. stock benchmarks on Monday finished the day around the loftiest levels of the session, as technology and internet stocks rallied on the back of strong gains from the likes of Microsoft Corp.

MSFT, +2.88%

and Apple Inc.

AAPL, +2.84%

The Dow Jones Industrial Average

DJIA, +0.70%

rose 175 points, or 0.7%, at 25,239, the S&P 500 index

SPX, +0.68%

gained 0.7% to reach 2,724, underpinned by a sharp rally in the technology sector

XLK, +1.60%

up 1.6%, on a preliminary basis. The technology-laden Nasdaq Composite Index

COMP, +1.15%

advanced 1.2% to 7,348, putting the index not far from escaping bear-market territory, commonly defined as a decline of at least 20% from a recent peak. The index entered bear market on Dec. 21 but has climbed nearly 20% from its bear-market low, with such a rise by some measures, representing an emergence from bear market. Looking ahead, market participants were awaiting results from Google-parent Alphabet Inc.

GOOG, +1.99%

GOOGL, +2.04%

which were slated for after the close of trading.

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