(CNBC) U.S. stocks closed mixed on Friday, but posted solid gains for the week, as strong earnings boosted the Nasdaq to another record high. ( Tweet This )
"Today Google is certainly in the spotlight because it's having one of it's best days in the history of Wall Street," said Daniel Deming, managing director at KKM Financial. "It's amazing you're seeing this market being able to recoup once (bad news) is taken away. ... I think this has been a classic study in how the psychology of the market really has a big impact."
The Nasdaq Composite jumped nearly 1 percent to a new closing and intraday high as Google Class A stock briefly surged more than 16.5 percent to above $700 a share. The combined rally in both Class C and Class A shares—with a trade volume about 7 times normal—is the biggest one-day gain in history, according to S&P Dow Jones Indices.
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