December 13, 2017
Friday, July 17, 2015

Google propels Nasdaq to another record high close

A major rally in Google pushed the Nasdaq to a second straight record high today while weak energy stocks weighed on the Dow and S&P 500.

Google surged 16.26 percent to end at an all-time high of $699.62, a day after reporting strong ad revenue growth. It was Google's largest one-day percentage gain since April 2008.

Facebook rose 4.53 percent to a record high of $94.97 on hopes that it could mirror Google's ad growth. Etsy spiked 30 percent thanks to a nod from Google during its conference call.

But a drop in oil prices limited gains on the broader stock market, with the S&P 500 energy index down 1.07 percent to its lowest level since January 2013. Chevron lost 1.4 percent. The utilities index dropped 1.06 percent.

Wall Street insiders were cautiously optimistic about upcoming quarterly reports after some results this week came in above expectations.

The Nasdaq Composite added 46.96 points, or 0.91 percent, to end at 5,210.14, its second straight record high close.

The S&P 500 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 Dow Jones industrial average fell 33.8 points, or 0.19 percent, to end at 18,086.45.

In Europe, Britain's top share index ended lower, weighed down by miners hit by a drop in metals prices and by Royal Mail, which fell after market regulator Ofcom published a discussion document reviewing the company.

The blue-chip FTSE 100 index closed 0.3 percent weaker at 6,775.08 points after rising 0.6 percent in the previous session.

Royal Mail fell 3.5 percent, the top FTSE faller, after Ofcom published a discussion document to review the company's efficiency, consider its position within the parcels sector and assess its potential ability to set wholesale prices in a way that might harm competition.

Ofcom first announced in June it would start a fundamental review of how Royal Mail was regulated.

The FTSEurofirst 300 index of top European shares closed down 0.01 percent at 1608.59. The FTSEurofirst and Euro STOXX 50 indexes both remain up nearly 20 percent in 2015.

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.

The Nikkei share average edged up 0.3 percent to 20,650.92, the highest closing level in three weeks. For the week, the benchmark jumped 4.4 percent, the biggest weekly gain since last October.

The broader Topix gained 0.1 percent to 1,662.94 in thin trade, with only 1.873 billion shares changing hands, the lowest level in a month. The JPX-Nikkei Index 400 added 0.2 percent to 15,022.34.

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Edition No. 5055 - This publication is a property of NEFIR S.A. -RNPI Nº 5343955 - Issn 1852 - 9224 - Te. 4349-1500 - San Juan 141 , (C1063ACY) CABA - Director Perdiodístico: Ricardo Daloia