U.S. Stocks Rise as GE Earnings Outweigh Technology Slump
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U.S. stocks rose, giving the Standard & Poor’s 500 Index a fourth straight week of gains, as better-than-forecast results from General Electric Co. offset disappointing earnings from Google Inc. and Microsoft Corp.
GE surged 4.6 percent to the highest in almost five years, pacing gains among industrial shares. Pfizer Inc. advanced 2.1 percent to boost health-care stocks. Technology shares sank 2 percent. Microsoft, the world’s largest software maker, plunged 11 percent and Google, owner of the most popular Internet search engine, lost 1.6 percent. Advanced Micro Devices Inc. retreated 13 percent after saying its gross margin would narrow in the current quarter.