The Dow and S&P 500 rose on Friday as General Electric Co's earnings bolstered views the recovery was gaining traction and helped set the market back on its up trend after two days of declines. But the Nasdaq slipped, as shares of Google pared early gains and turned negative. Late Thursday, the world's No 1 search engine reported earnings that beat Wall Street's expectations.
Shares of General Electric, considered a bellwether for the economy and corporate America, rose 6.6 percent to $19.65 and hit their highest level since April 30. The stock, the top positive in the Dow, also scored its biggest daily percentage jump since May 10. The Dow Jones industrial average was up 31.90 points, or 0.27 percent, at 11,854.70. The Standard & Poor's 500 Index was up 3.64 points, or 0.28 percent, at 1,283.90. The Nasdaq Composite Index was down 3.59 points, or 0.13 percent, at 2,700.70. Earlier, the Dow climbed to a fresh 52-week high at 11,905.48.
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