Stocks Rose, Nasdaq Closed at New High

U.S. stocks rose broadly and the Nasdaq closed at a new high on Thursday after several big companies reported better-than- expected earnings. The Dow Jones Industrial Average advanced 70.08 points, or 0.39%, to 18,120.25. The S&P 500 added 16.89 points, or 0.80%, to 2,124.29. The Nasdaq Composite rose 64.24 points, or 1.26%, to 5,163.18, a new closing high.

Goldman Sachs Group Inc (GS.N) reported its smallest quarterly profit in nearly four years on Thursday as it set aside more than $1 billion to cover potential mortgage settlements, and nervous investors pulled back from bond trading. The bank’s net profit attributable to shareholders more than halved to $916 million, or $1.98 per share, in the three months to June 30, from $1.95 billion, or $4.10 per share, a year earlier.

Google reported quarterly profit that topped analysts’ expectations. The Internet and technology giant posted adjusted second-quarter earnings of $6.99 per share on $17.73 billion in revenue.

Schlumberger Ltd.beat second-quarter profit expectations and provided a somewhat optimistic industry outlook.Net earnings fell to $1.12 billion, or 88 cents a share, from $1.6 billion, or $1.21 a share, in the same period a year ago.






Leave a Reply