U.S. stocks rebound on earnings; Dow rises 0.73%


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Investing.com - Upbeat earnings reports from Google Inc (NASDAQ:GOOGL) and others sent U.S. stock prices rebounding on Friday as investors brushed off geopolitical tensions in Ukraine and in Gaza.

At the close of U.S. trading, the Dow 30 rose 0.73%, the S&P 500 index rose 1.03%, while the NASDAQ Composite index rose 1.57%.

The Volatility S&P 500 index, which measures the outlook for market volatility, was down 16.30% at 12.17.

Despite U.S. accusations that pro-Russian separatists shot down a Malaysian Airlines plane and an ongoing Israeli ground offensive in Gaza, investors jumped in from the sidelines and went long on stocks, optimistic over upbeat earnings from tech bellwether Google.

Google's net income missed expectations in the second quarter due to heavy spending but a 22% jump in revenue to $16 billion drew applause on Wall Street.

General Electric Company (NYSE:GE) drew applause after reporting earnings and revenue figures that pleased investors, especially due to business in the company's industrial concerns even though the company finished the day in negative territory.

Investors shrugged off a consumer sentiment report that missed expectations.

The Thomson Reuters/University of Michigan preliminary consumer sentiment index fell to a four-month low of 81.3 in July from 82.5 in June, confounding expectations for rise to 83.0.

Leading Dow Jones Industrial Average performers included Johnson & Johnson (NYSE:JNJ), up 1.43%, Boeing Company (NYSE:BA), up 1.39%, and Nike Inc (NYSE:NKE), up 1.30%.

The Dow Jones Industrial Average's worst performers included General Electric Company (NYSE:GE), down 0.58%, International Business Machines (NYSE:IBM), down 0.11%, and Intel Corporation (NASDAQ:INTC), which was up 0.13%.

European indices, meanwhile, ended the day largely higher.

After the close of European trade, the DJ Euro Stoxx 50 rose 0.08%, France's CAC 40 rose 0.44%, while Germany's DAX fell 0.35%. Meanwhile, in the U.K. the FTSE 100 rose 0.17%.

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This article appears in: Investing , Forex and Currencies

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