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Stocks Rise; Google Beats

NEW YORK ( TheStreet) -- Stocks posted gains Thursday, aided by strong corporate earnings and good manufacturing data, as investors shrugged off disappointing jobs data. After the close, Google (GOOG - Get Report) reported earnings that beat expectations.

The Dow Jones Industrial Average added 21 points, or 0.2%, to 11,145. The S&P 500 gained 1 point, or 0.1%, at 1212, while the Nasdaq went ahead by 11 points, or 0.4%, at 2516.

After the close of trading, Google said thriving ad sales helped it earn $6.76 per share, excluding items, in the first quarter and boosted revenue by 23%, topping forecasts on both counts. Shares added 1.1% during the session to finish at $595.30, but were selling off in extended hours trading with some reports citing increasing costs as a worry for investors. Also, CEO Eric Schmidt did not participate in the after hours earnings call.

The day's economic news offered a mixed view of the recovery. Initial jobless claims unexpectedly rose to 484,000 and industrial production grew at a sluggish pace in March. Regional manufacturing indices, however, showed continued strength.

U.S. foreclosure rates surged 35% in the first quarter, according to RealtyTrac.

China's gross domestic product rose 11.9% in the first quarter, while inflation remained low at 2.2%.

Overseas, Hong Kong's Hang Seng gained 0.2%, and Japan's Nikkei advanced 0.6%. The FTSE in London was added 0.5% while the DAX in Frankfurt rose 0.2%.

London's Heathrow Airport -- Europe's busiest -- closed operations Thursday after a volcano in Iceland forced authorities to close air space in the U.K. and Scandinavia.
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AMD $3.66 1.67%
BTU $1.67 -1.76%
GOOG $701.43 0.82%
JBHT $82.18 -0.15%
MGM $21.87 1.86%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

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