Tech stocks help the market finish the week on a stronger note $AUDUSD
- Published: 22 April 2013
- U.S. stocks rose with the Standard & Poor’s 500 Index rebounding from a six-week low, as companies from Capital One Financial Corp. to Google Inc. (GOOG) reported earnings that topped analysts’ forecasts, but it wasn't enough to prevent the S&P 500 from suffering its worst week since November.
- Microsoft and Google fuelled gains for tech stocks on Friday, though IBM fell hard after missing the Street’s first-quarter forecast, while Dell slumped after Blackstone called off its takeover effort.
- Capital One Financial Corp., Chipotle Mexican Grill Inc. and Microsoft Corp. (MSFT) climbed at least 3.4 percent to help lead the market higher after reporting quarterly results that beat estimates.
- DOW +0.07% S&P500 +0.88% and NASDAQ +1.25%
- The yen fell for a fourth day against the dollar after the Group of 20 gave Japan leeway to reflate its economy by indicating the nation’s monetary stimulus plan doesn’t contravene a pact to avoid currency devaluations.
- Gold pared gains after climbing as much as 2.6 percent to $1,426.05 an ounce. It fell 9.1 percent on April 15, the most in three decades. Prices fell about 5.5 percent last week, the fourth weekly decline on concern European governments will follow Cyprus in selling reserves.
