Wall Street closed an erratic week with strong gains today as strong earnings from Microsoft Corp. and an optimistic outlook from Countrywide Financial Corp. outweighed investor concerns about the economy.

Housing market news over the week was glum; oil prices surged to record highs. And though corporate earnings have so far been mixed, investors have been heartened by good news for individual companies.

Today’s report from Countrywide that it expects to return to profitability soon, despite a big third-quarter loss, gave investors hope that the problems in the housing market are contained and that American consumers still have spending power. Last night’s strong report from Microsoft inspired strong buying throughout the technology sector.

“The market is higher for just two reasons — Countrywide and Microsoft,” an equity strategist at Miller Tabak, Peter Boockvar, said. “You take those two stocks out of the equation and there is no reason for the market to be higher. Microsoft single-handedly is driving the Nasdaq.”

Mixed profit reports and data showing economic weakness has made investors uncertain whether the market is overvalued. However, earnings will be pushed aside next week as the main focus of investor attention — and taking it place will be the Federal Reserve’s rate-setting meeting on Tuesday and Wednesday.

The Dow Jones industrial average rose 134.78, or 0.99%, to 13,806.70.

Broader stock indicators also gained. The Standard & Poor’s 500 index rose 20.88, or 1.38%, to 1,535.28, and the technology-dominated Nasdaq composite index advanced 53.33, or 1.94%, to 2,804.19.

For the week, the Dow rose 2.11%, the Nasdaq was up 2.90%, and the S&P 500 jumped 2.31%. The gains were welcome after all three indexes posted losses in the previous week.

High oil prices didn’t dampen investors’ spirits either. After spiking above $92 a barrel in Asian trading overnight, December crude futures rose $1.40 to settle at $91.86 a barrel on the New York Mercantile Exchange.