The Nasdaq Composite Index extended its all-time high after Google jumped on better-than-estimated earnings, while the Standard & Poor’s 500 Index was little changed as energy shares fell with oil.
The tech-heavy Nasdaq Composite (INDEXNASDAQ:.IXIC) advanced 0.8 percent to 5,206.27 at 3:44 p.m. in New York. The S&P 500 (INDEXSP:.INX) was up 0.1 percent at 2,125.98. The 30-company Dow Jones Industrial Average (INDEXDJX:.DJI) slipped 0.2 percent to 18,084.58.
Google (NASDAQ:GOOGL) jumped 16 percent to $698.98 after the search engine company’s profit beat forecasts for the first time in six quarters and the company said it would be more disciplined on spending.
MOVERS:
Advanced Micro Devices (NASDAQ:AMD) declined 3.2 percent to $1.82 as the semiconductor company’s second-quarter loss widened sharply and revenue declined 35 percent from the year earlier as the chip maker continued to struggle with a declining market for personal computers.
SolarWinds (NYSE:SWI) slipped 22 percent to $36.50 as Robert W. Baird & Co. downgraded the company’s stock to “neutral” from “outperform” after the provider of management software cut its revenue forecast.
Mattel (NASDAQ:MAT) fell 3.8 percent to $24.19 as the world’s largest toymaker swung to a second-quarter loss as sales fell for the seventh straight quarter on weak international demand for its Barbie dolls.
General Electric (NYSE:GE) rose 0.7 percent to $27.23 after the conglomerate raised its 2015 outlook for its industrial manufacturing businesses.
Boeing (NYSE:BA) declined 1.0 percent to $147.00 after saying it will book a $536 million after-tax charge in its recently-ended quarter as it spends more on its KC-46 aerial refueling tanker program.
Honeywell (NYSE:HON) gained 2 percent to $105.60 after the U.S. manufacturer of aerospace parts and climate control systems reported a 9 percent rise in quarterly profit.
Hertz Global Holdings (NYSE:HTZ) surged 13 percent to $19.20 after the rental-car company said it finished restating more than two years of financial results and expects to reach annualized cost savings of $300 million by year-end, $100 million more than its goal.
SunTrust Banks (NYSE:STI) fell 1.4 percent to $44.72. The bank earned an adjusted $0.86 per share for its latest quarter, $0.05 above estimates, with revenue also beating forecasts.
ConocoPhillips (NYSE:COP) lost 1.2 percent to $57.29. The independent exploration and production company said it would increase its dividend but reduce deepwater exploration spending, its latest cut, because of low oil prices.
DATA:
Home builders ramped up construction in June and laid the groundwork for an even busier fall. Housing starts rose 9.8 percent in June to a 1.17 million annualized rate from an upwardly revised 1.07 million in May. Building permits for single and multifamily properties, a gauge of future construction, climbed to an almost eight-year high.
Another report showed the cost of living rose in June for the fifth consecutive month, paced by increases in rents that are helping nudge inflation toward the Federal Reserve’s goal. The consumer-price index climbed 0.3 percent after rising 0.4 percent in May, a Labor Department report showed, equaling the median forecast of economists surveyed by Bloomberg.
COMMODITIES
Gold for August delivery on Comex fell 1.1 percent to settle at $1,131.90 an ounce, suffering a roughly 2.3 percent weekly decline.
U.S. August crude, also known as West Texas Intermediate (WTI), settled down 2 cents at $50.89, down 3.5 percent this week.