S&P 500 Extends Record Amid Stimulus Bets as Google Jumps
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U.S. stocks rose, giving the Standard & Poor’s 500 Index its best weekly gain since July, as results from Google Inc. topped estimates and speculation grew that the Federal Reserve will delay cutting monetary stimulus.
Google rallied 14 percent to surpass $1,000 a share for the first time after reporting third-quarter sales that beat analysts’ projections. General Electric Co. added 3.5 percent as demand for industrial products boosted earnings. Chipotle Mexican Grill Inc. surged 16 percent to a record as customer traffic rose. UnitedHealth Group Inc. slumped 3.7 percent, extending yesterday’s 5.1 percent slide after the insurer reported sales that fell short of analyst estimates.