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Stocks rise on tech earnings; Nasdaq adds to record
Published in Saudi Press Agency on 24 - 04 - 2015

Stock indexes edged higher Friday, helped by gains in big technology companies including Google, Amazon and Microsoft, according to AP.
KEEPING SCORE: The Standard & Poor's 500 index rose five points, or 0.3 percent, to 2,118 as of 2:20 p.m. Eastern. The Nasdaq composite added 37 points, or 0.7 percent, to 5,093 and the Dow Jones industrial average was up 22 points, or 0.1 percent, at 18,082.
BIG GAINS IN BIG TECH: Microsoft, Amazon and Google all rose sharply after the releasing their quarterly results. Amazon jumped $56.66, or 15 percent, to $446.55. While the company reported a quarterly loss, investors were encouraged the growth in some of Amazon's other businesses, including Amazon's cloud computing division.
Microsoft rose $4.12, or 10 percent, to $47.48. The software giant had results that beat expectations, and like Amazon, showed promising growth in new businesses like cloud computing. Google rose $17.72, or 3 percent, to $564.72. The search and advertising company missed analysts' expectations; the company had strong growth in mobile advertising.
PIVOTING: Investors have been looking for Google, Microsoft and Amazon to show promise outside their bread-and-butter businesses. Microsoft cannot solely rely on PC sales to drive its profits, Amazon has very low profit margins on the products it sells and Google is heavily exposed to desktop computer advertising while the world is shifting to mobile.
NASDAQ RECORD: On Thursday the Nasdaq composite rose to 5,056.06 points, beating the record of 5,048.62 it set on March 10, 2000 at the height of the dot-com boom.
ENERGY: Benchmark U.S. crude oil fell 59 cents to close at $57.15 a barrel on the New York Mercantile Exchange.
CURRENCIES, BONDS: The dollar fell to 118.89 yen from 119.62 yen. The euro was little changed at $1.0865. U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 1.92 percent from 1.96 percent late Thursday.
METALS: Gold fell $19.30 to $1,175 an ounce, silver fell 19 cents to $15.64 an ounce and copper rose five cents to $2.75 a pound.
-- SPA
21:45 LOCAL TIME 18:45 GMT
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