BUSINESS

S&P 500 pushes further into record territory on strong earnings from GE, Google, others

10/18/2013 04:15 EDT | Updated 12/18/2013 05:12 EST
NEW YORK, N.Y. - The Standard & Poor's 500 index is rising further into record territory as investors turn their attention from politics to profits.

General Electric, Morgan Stanley and Google all rose after reporting higher profits than financial analysts were expecting. Google topped $1,000 a share for the first time.

Traders were relieved that Washington reached a deal Wednesday to avoid a U.S. debt default and reopen the government after a partial shutdown that ran 16 days.

The S&P 500 rose 11 points, or 0.7 per cent, to 1,744 Friday, its second record close in as many days.

The Dow Jones industrial average rose 28 points, or 0.2 per cent, to 15,399. The Nasdaq composite was up 51 points, or 1.3 per cent, at 3,914.

The gains were broad. Volume was heavy at 3.6 billion shares.