Shares of Microsoft Corp. surged on Monday, jumping in its biggest one-day pop in years and helping to lead both the technology sector and the broader market higher. The stock , a Dow component, climbed 6.5% and was on track for its best day since Oct. 2015. Gains came after Morgan Stanley raised its price target on Microsoft to $130, a level that implies upside of 40% from current levels. In addition, Microsoft announced an extension of its China partnership with Adobe Systems Inc. . Shares of Adobe were up 3.9%. Microsoft was the biggest percentage gainer in the S&P 500 on Monday, and the rise contributed to the 2.3% gain in the technology sector , which was the top-performing industry group of the day. Thus far this year, Microsoft is up 8.4%. The Dow Jones Industrial Average rose 1.7% on Monday while the S&P 500 was up 1.4% and the Nasdaq Composite Index climbed 1.6%.
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