Stocks Close Up, S&P Pushes Further Into Record Territory

NEW YORK (October 18, 2013)--The Standard & Poor's 500 index is pushed further into record territory Friday as investors turned 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 lawmakers and the White House reached a deal Wednesday in Washington to avert 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 percent, to close at 1,744 Friday, its second record close in two days.

The Dow Jones industrial average rose 28 points, or 0.2 percent, to end at 15,399.

The Nasdaq composite was up 51 points, or 1.3 percent, to end the day at 3,914.

The gains were broad and volume was heavy at 3.6 billion shares.


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