Stocks rose on Thursday, with the Nasdaq hitting its first high in 15 years and the S&P 500 reaching a new intraday high. Bobbi Rebell reports.
A huge day on Wall Street. The Nasdaq hitting a new high for the first time in 15 years. The S&P 500 also rallying, hitting intraday levels not seen before. Ross Gerber CEO of Gerber Kawasaki: SOUNDBITE: ROSS GERBER, CEO, GERBER KAWASAKI (ENGLISH) SAYING: "I think, as an investor, I don't really care what the index number is as much as what is the individual valuations of the components of the index. So, it really doesn't mean much to me. It's an emotional thing, and we are emotional beings so it just feels good." After hours earnings highlights included... Google first quarter revenue up 12 percent, thanks to a jump in the number of ads or paid clicks, though the results were below forecasts. Amazon reported a loss in line with forecasts. But revenue was up more than expected thanks in part to its fast-growing cloud computing services unit. Starbucks sales at their coffee shops were better-than-expected, sending its stock higher in after hours trading. And a great quarter for Microsoft. Both, profits and revenue, beat Wall Street forecasts, thanks in part to cloud computing growth. The strong dollar doing damage to results at a number of companies reporting Thursday, including United Continental, 3M, and PepsiCo. Homebuilders' stocks fell after Pulte Group surprised Wall Street with a sharp drop in quarterly profit. And a Commerce Department report showed new home sales suffering its biggest fall since last July. In other economics news, the number of Americans filing for jobless benefits rose last week. In Europe, Ericsson's weak results and lackluster Euro zone purchasing managers' data dragged stocks down. But the FTSE closed higher.