Stronger earnings from Google, Honeywell and others drive a recovery in US stocks

NEW YORK, N.Y. – Earnings gains from Google, Honeywell and other big U.S. companies drive the stock market to a higher close, wiping out much of its loss from the day before.

The Dow Jones industrial average rose 123 points, or 0.7 per cent, to 17,097 Friday.

The Standard & Poor’s 500 index rose 20 points, or 1 per cent, to 1,978. The Nasdaq composite rose 68 points, or 1.6 per cent, to 4,432.

Markets recovered a day after being rattled by the downing of a passenger jet over eastern Ukraine and Israel’s launch of a ground offensive into Gaza.

Honeywell International rose 2 per cent after reporting that its income rose sharply in the latest quarter. Google rose 4 after reporting its results.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.48 per cent.