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Global Stocks: Google rules
U.S. stock indices mostly advanced on Friday as investors moved their eyes from Greece, which got a bailout agreement, to quarterly profits reports.
The Dow Jones Industrial Average declined 33.80 points, or 0.2%, to 18,086.45 but still hammered out a 1.8% weekly gain. The S&P 500 added 2.35 points, or 0.1%, to 2,126.64, settling 4 points below its all-time closing high with a weekly gain of 2.4% after three weeks of declines. Nine out of ten components of the index fell with energy companies leading declines amid lower oil prices. The Nasdaq Composite Index rose 44.96 points, or 0.9%, to close at 5,210.14, securing a 4.25% weekly rise.
Google shares jumped 16% to a record close, after the company's quarterly earnings beat analysts' expectations.
In Asia this morning Hong Kong Hang Seng declined 0.24%, or 60.98 points, to 25,354.29. China Shanghai Composite Index climbed 0.04%, or 1.55 point, to 3,958.91. Analysts from Goldlark Investment Consultation believe that investors shouldn't be optimistic about Chinese stocks now as gains are unstable and they are followed by retreats. Japanese stock markets are on holiday.
Asian stock indices traded mixed. Investors put Greece's drama aside and focused on Chinese economy and prospects of Fed rates.
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