US stocks rally as tech sector shines

NEW YORK: US stocks climbed Friday, buoyed by Google's gangbuster earnings, rising US retail sales and hopes that Europe
14 Oct, 2011

The Dow Jones Industrial Average rose 167.11 points (1.46 percent) to 11,645.24 in closing trade.

The S&P 500, a broader measure of the markets, advanced 20.91 points (1.74 percent) to 1,224.57, while the tech-heavy Nasdaq Composite gained 47.61 points (1.82 percent) to 2,667.85.

Google shares shot up 5.85 percent to $591.68 after reporting late Thursday a big jump in third quarter profit, to $9.72 billion, as sales leaped 33 percent from the same period last year.

Analysts said that helped give a boost to Amazon, which pushed up 4.47 percent to $246.71, a new all-time high.

Copyright AFP (Agence France-Presse), 2011

Read Comments