Technology leads US stocks higher TECHNOLOGY stocks led US equity markets higher as a surprisingly good earnings report from Facebook lifted the Nasdaq. The tech-rich Nasdaq Composite Index rose 25.59 (0.71 per cent) to 3,605.19 on Thursday. The Dow Jones Industrial Average increased 13.37 (0.09 per cent) to 15,555.61, while the broad-based S&P 500 added 4.31 (0.26 per cent) at 1,690.25. Facebook was in focus after the leading social network's earnings report, released after the market closed on Wednesday, showed robust growth in ad revenue from mobile technology. Facebook shares skyrocketed nearly 30 per cent to $34.36. "The strength today is in the Nasdaq," said Kenny Landgraf with Kenjol Capital Management. Art Hogan, managing director at Lazard Capital Markets, characterised earnings overall as a "mixed bag" adding that the market is in a mode of "consolidation" after recent record highs. Dow member Dow Chemical rose 1.8 per cent after besting earning expectations by a penny at 64 cents per share and reporting slightly higher-than-expected revenues. The company had bigger profit margins in some segments. Credit-card company Visa jumped 4.2 per cent after reporting a 16 per cent rise in net income to $1.2 billion and announcing a new $1.5 billion share repurchase program. Natural gas company ONEOK surged 25.5 per cent after announcing a plan to split into two companies, a move that is expected to lift dividends. Homebuilder PulteGroup plummeted 10.3 per cent after revenues came in 8 per cent below expectations at $1.28 billion and net new home orders sank 12 per cent from the prior year. Another homebuilder, Ryland Group, fell 5.1 per cent after revenues came in 16 per cent shy of projections. But new orders rose 56.7 per cent and backlog also increased. Bond prices dropped. The yield on the 10-year US Treasury bond rose to 2.61 per cent from 2.59 per cent Wednesday, while the 30-year climbed to 3.67 per cent from 3.65 per cent.