Stocks soared to 6 1/2-year highs Friday on better than expected results from the likes of Google , Caterpillar
and Honeywell
.
The Dow hit another record, its 15th gain in 16 sessions, and the S&P ended the day a little more than 2% from its all-time high, a stunning recovery from its 50% plunge in 2000-2002.
Google rose more than 2% after posting yet another blow-out quarter, while AMD slipped on a big loss and pledges to turn it around.
Packeteer and Bell Micro
gained on their results, but once again, the biggest technology earnings movers seemed to be to the downside, with RightNow
, Stamps.com
and Sirf
posting losses of 10% or more.
The Nasdaq rose 21 to 2526, the S&P 500 gained 13 to 1484, and the Dow soared 153 to 12,962. Volume rose to 3.32 billion shares on the NYSE, and was unchanged at 2.14 billion on the Nasdaq. Advancing issues led by a 25-7 margin on the NYSE, and 20-9 on the Nasdaq. Upside volume was 78% on the NYSE, and 72% on the Nasdaq. New highs-new lows were 341-13 on the NYSE, and 166-52 on the Nasdaq.
