Stocks Booked Weekly Gains, Nasdaq Closed at Record High

U.S. stocks booked solid weekly gains as the Nasdaq Composite closed at a record high on Friday, powered by optimism for technology companies following Google’s blockbuster results. The Dow Jones Industrial Average fell 33.80 points, or 0.19%, to 18,086.45 but still booked a 1.8% weekly gain. The S&P 500 added 2.35 points, or 0.11%, to 2,126.64 and gaining 2.4% over the week. The Nasdaq Composite gained 46.96 points, or 0.91%, to 5,210.14 and rose 4.25% over the week.

Google made one of the largest stock market moves ever on Friday. The Internet giant reported strong second-quarter results on Thursday. That pushed Google’s Class A stock above $700 for the first time. Google’s market capitalization, already around $400 billion, rose $52 billion during the day, according to S&P Dow Jones Indices.

Hertz Global Holdings Inc. said it anticipates full-year earnings to be at the top range of its forecast, providing a hefty lift for the company’s stock after several financial restatements and a deep retooling of operations.

Greece’s proposed bailout cleared further key hurdles Friday after German lawmakers overwhelmingly gave their backing to another financial rescue and the European Union said it would release a short-term loan to ensure Athens avoids a debt default.