The search engine giant’s market capitalization increased $60 billion in one day to around $375 billion.
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Meanwhile, Japanese stocks extended their rise into a fifth day thanks to strength on Wall Street, but gains were capped as investors refrained from taking big positions before a long weekend. Google surged on the reporting of strong results, which helped NASDAQ reach a record high. The nice thing about it was in fact in the middle of vast each quarter hour income from large United states.S. organizations like Citigroup and JPMorgan Chase. It was earlier this month that the drop in China’s stock market had put down a few investors.
The S&P 500 .SPX gained 2.35 points, or 0.11 percent, to end at 2,126.64, just shy of its record high of 2,130.82. The 30-company Dow Jones Industrial Average (INDEXDJX:.DJI) slipped 0.2 percent to 18,084.58.
Google’s enormous run-up came after the Mountain View, California, company reported quarterly earnings that topped analyst estimates for the first time since late 2013.
Google’s Class A shares gained $97.84, or 16.3 percent, to close at $699.62.
General Electric (GE) and Honeywell (HON) have also moved to the upside after reporting better than expected second quarter earnings before the start of today’s trading.
“People are feeling pretty good about Google now”, said S&P Capital IQ analyst Scott Kessler.
ConocoPhillips (NYSE:COP) lost 1.2 percent to $57.29. On Friday, the deal cleared another hurdle when German lawmakers overwhelmingly backed it. The European Union also said it would get Athens enough money for it keep making its debt payments.
Other tech stocks to rise included Apple (0.8 per cent) Facebook (+4.5 per cent) and Priceline (+2.7 per cent).
For the week, FTSE 100 index increased 1.5% and the DAX index jumped 3% and the CAC 40 index soared 4.3%.
The dollar edged higher against major world currencies, while the euro held near $1.08.
METALS: In metals trading, precious and industrial metals sank.
Google’s gain is having an outsized effect on the S&P 500 as well, adding 7 points at the open, according to Howard Silverblatt.
Light Sweet Crude Oil futures for August delivery, the most actively traded contract, inched down USD0.02, to settle at USD50.89 a barrel on the New York Mercantile Exchange Friday. Brent crude, an worldwide benchmark, rose 46 cents to $57.51 a barrel in London.
Nine of the 10 major S&P 500 sectors were higher, with the utilities index’s.SPLRCU 1.54 percent advance leading the gainers.
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METALS: Gold fell $12 to $1,131.90 an ounce.
