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Stocks edging higher on Wall Street; Amazon surges
Stocks are trading slightly higher on Wall Street; Amazon surges on jump in shipments
By The Associated Press

NEW YORK (AP) ' Stocks are trading slightly higher as investors weigh big corporate profit gains against disappointing economic news.

The Dow Jones industrial average was up 26 points at 13,231 at midday Friday. The Standard & Poor's 500 edged up less than two points to 1,402. The Nasdaq composite rose 12 points to 3,063.

Amazon soared 14 percent after the online retailer reported a big increase in shipments.

The government reported the U.S. economy grew at an annual rate of 2.2 percent in the first three months this year, below the 2.5 percent expected.

Credit rating agency S&P downgraded Spain's debt. Spain also reported its unemployment rate rose to nearly 25 percent, the highest in 18 years.

Germany's DAX and France's CAC-40 each rose 1 percent. Stocks also rose in Italy and Spain.

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