Achieved strong profit Google is able to sustain Wall Street closed higher in trading this weekend, Friday, July 15, 2011, local time.
Investors in the New York Stock Exchange seems to largely ignore the debate over the issue of government debt ceiling increase. The statement is quite disturbing to the problem of the financial health of European and U.S. manufacturing data (U.S.) who weighed the stock price in recent days.
The Dow Jones industrial average closed up in overnight trading 42.61 points (0.34 percent) to a level of 12479.73. Technology stock index climbed 27.13 points (0.98 percent) to 2789.80 and the S & P 500 index also rose 7.27 points (0.56 percent) to 1316.14.
Google shares jumped nearly 13 percent, after the search engine company in cyberspace, said that second quarter 2011 revenue reached a record high. The growth of Google's earnings are also encouraging other technology stocks, like Microsoft Corp. and Cisco Systems Inc. rose 1 percent respectively.
"Worries Europe's debt problems and the low production of U.S. factories to make stock prices tend to weaken since the early spring of this year," said Ryan Detrick, Senior Strategy Expert at Schaeffer's Investment Research. However, if the issuer's earnings remain strong and stable Europe began, it was likely the index will rally up in the second half. Like last year, before the European debt worries could overload the exchange, but able to turn stronger in the summer.
"In the midst of debt talks Europe and the U.S. negative sentiment, but the fact that corporate earnings are released is still pretty good," said Detrick. Most investors believe that the congress and the government will reach an agreement on the question of raising the debt ceiling before the deadline of August 2.
Rating agency Standard & Poor's said that 50 percent would likely downgrade of U.S. debt from AAA level in three months because of this impasse. Moody's also made the same decision last Wednesday. Even so, it has seen little progress in negotiations between President Barack Obama and congressional Republicans.