(PTI): American stock markets have swung higher after two big technology companies said their business is improving.

Following the announcements by Oracle Corporation and Research in Motion, the Dow Jones industrial average gained over 20 points to reach 10,328.89. Business software company Oracle’s shares gained 6.4 percent to $24.34 while, the stock of Research in Motion surged 10.3 percent to $69.99.

Nasdaq also climbed more than 30 points to 2,211.69 and Standard & Poor’s rose over 6 points to 1,102.47.

However, shares of multinational companies were hit by the strengthened dollar.

The US dollar index jumped nearly 0.6 percent to decrease some of the selling pressure on stocks.

Heavy equipment maker Caterpillar Inc plunged 0.6 percent to $57.19 and plane maker Boeing Co fell 1.9 percent to $53.44 – the biggest drop on the Dow.