Stocks Ended Sharply Higher amid Earnings, Draghi

U.S. stocks closed sharply higher on Thursday, as Wall Street digested the European Central Bank ‘s rates decision, economic data and a fresh batch of earnings. The Dow Jones Industrial Average climbed 320.55 points, or 1.87%, to 17,489.16. The S&P 500 gained 33.57 points, or 1.667%, to 2,052.51. The Nasdaq Composite rose 79.93 points, or 1.65%, to 4,920.05.

E-commerce giant Amazon.com Inc (AMZN.O) reported a surprise profit for the second quarter in a row, propelled by higher sales in North America, its biggest market, and another period of strong growth in its Amazon Web Services cloud business. It reported a profit of $79 million, or 17 cents per share, compared with a loss of $437 million, or 95 cents per share, a year earlier.

Microsoft Corp reported a 6.6 fall in quarterly adjusted revenue, as a strong dollar hit sales from outside the United States and a weak personal computer market limited demand for its mainstay Windows operating system. The company’s net income rose to $4.62 billion, or 57 cents per share, in the first quarter ended Sept. 30, from $4.54 billion, or 54 cents per share, a year earlier.

AT&T Inc. reported an 18.6 percent rise in quarterly revenue, helped by its DirecTV acquisition and as it added more prepaid mobile subscribers. Net income attributable to the company fell to $3.0 billion, or 50 cents per share, in the third quarter ended Sept. 30, from $3.13 billion, or 60 cents per share, a year earlier.