Stocks soared yesterday posting gains unseen in nearly two months as big names such as Microsoft and General Electric came out with unexpected good news of growth, surprising investors accustomed to the drumbeat of earnings warnings and disappointments.

The Dow Jones industrial average jumped 237.97 points, or 2.32 per cent, to close at 10,478.99 while the Nasdaq composite index leaped 103.64 points, or 5.26 per cent, to 2,075.68. Microsoft said after Wednesday's close that it expects quarterly revenues to grow, while General Electric reported record results. Microsoft gained nearly 8 per cent, or $5.10, to $71.60 (€83.91), while General Electric rose 5.4 per cent, or $2.39, to $47.00. Encouraging news also came from Yahoo, one of the most visited web sites, and mobile phone maker Motorola.