Watch CBSN Live

Stocks rally; S&P 500 tallies worst month since August

NEW YORK - U.S. stocks jumped , despite signs of weak economic growth, on encouraging earnings news and higher energy prices.

The government said Friday that growth in the U.S. economy slowed as consumers spent less, business didn't invest as much and exports fell.

Microsoft rose 6 percent after it reported stronger-than-expected results. Consol Energy rose sharply along with the price of natural gas.

Amazon shares fell nearly 8 percent reporting that its costs rose more than expected.

The Dow Jones industrial average rose 397 points, or 2.5 percent, to 16,466.

The Standard & Poor's 500 index rose 47 points, or 2.5 percent, to 1,940, leaving it down 5.1 percent for the month. The Nasdaq composite rose 107 points, or 2.4 percent, to 4,614.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.93 percent.

View CBS News In