15 Apr '11, 10pm

US stock markets rise despite Google, BofA earnings

NEW YORK - The US stock market rose on Friday, as US inflation data showed prices rising in line with traders expectations, but tech stocks were slowed by disappointing Google earnings. At the close, the Dow Jones Industrial Average rose 56.68 points (0.46 percent) to 12,341.83 while the broader S&P 500 rose 5.16 points (0.39 percent) to 1,319.68. But the tech-heavy Nasdaq Composite rose just 4.43 points (0.16 percent) to 2,764.65 as Google shares lost more than eight percent of their value. The Internet giant's earnings on Thursday came in slightly below Wall Street expectations, dragged down by rising operating expenses. The Mountain View, California-based firm reported a first-quarter net profit of $2.3 billion, up from $1.96 billion a year ago. Bank of America earnings also missed expectations, sending its shares down 2.4 percent. But the broader market took solace fro...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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