Market Bits: Google Earnings, Retail Sales, Gold Prices

NEW YORK ( TheStreet) -- Global economic uncertainty and concerns about an anti-trust investigation did little to hurt Google's ( GOOG) third-quarter earnings as the search giant blew past Wall Street estimates.

Adjusted net income at Google increased to $3.18 billion, or $9.72 per share, for the September-ended quarter, well ahead of $2.46 billion, or $7.64 per share, during the same period last year.

Adjusted revenue -- excluding traffic acquisition costs -- jumped 37% to $7.51 billion.

Over 190 million of Google's Android-based phones have been activated globally, with its newest upgrade, Ice Cream Sandwich, set for release next week.

The operating system is set to contribute $2.5 billion in mobile advertising revenue this year.

What: Retail Sales/Consumer Sentiment

When: 8:30 a.m. ET

Before the bell, U.S. retail sales rose 1.1% in September, significantly stronger than the consensus call for a 0.7% increase. Sales rose only by 0.3% in August. The recent boost came from a spike in auto sales as well as broader gains in the clothing, restaurants and furniture industries.

Stocks showed resilience even after the University of Michigan's consumer sentiment index came in weaker than expected. The index edged down to 57.5 in October from 59.4 in September, when economists had called for an increase to 60.

Gold prices were paring losses from Thursday but unable to break out of their trading range as prices were held hostage by the U.S. dollar.

Gold for December delivery was rallying $7.40 to $1,675.90 an ounce at the Comex division of the New York Mercantile Exchange. The gold price has traded as high as $1,681 and as low as $1,662.50, while the spot gold price was up $9, according to Kitco's gold index.

Gold will be taking its cue from the dollar and the two-day G20 meeting in Paris. World leaders convene Friday looking to come up with a decisive solution for the European sovereign debt crisis and Greece's insolvency worries.

A definitive plan could boost gold if the metal keeps moving with stocks, as investors have less need to liquidate. But a plan could also prompt a big rush into riskier assets leaving gold, the safe haven, on the sidelines.

Gold experts seem somewhat mixed as to gold's next move.

This article was written by a staff member of TheStreet.

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