US stocks rise, investors shrug off global concerns

US stocks are up on Friday, en route to ending positively for the third consecutive session, as investors shrug off global concerns.

The S&P 500 Index is up 7.43 points, or 0.57 percent, to trade at 1,317.07 at 1:40 p.m. EST. The Dow Jones Industrial Average gained 69.89 points, or 0.57 percent, to trade at 12,240.45. The Nasdaq Composite rose 0.78 percent.

Oracle (NASDAQ:ORCL) surged 3.02 percent and Accenture (NYSE:ACN) jumped 3.96 percent on better-than-expected earnings.

The continued solid corporate earnings out of the technology sector highlight the willingness of businesses to step up investments in their operations.

Economic data was positive as the final reading of fourth quarter 2010 GDP was upwardly revised to 3.1 percent from 2.8 percent.

The ongoing situation in Japan’s nuclear power plants, Portugal sovereign debt market, and the protests in Middle East/North Africa still present uncertainties; US-traded crude oil futures remain around $105 per barrel.

However, US equities investors are taking these global concerns in stride and focusing on solid corporate earnings instead.