Covering The Economy

Feb 1, 2013 3:38 PM

Google's Stock Rides Latest Rally To New High

SAN FRANCISCO (AP) - Google's stock climbed to a new high Friday as Wall Street's best known indexes approached record territory, too.

The shares of the Internet search leader peaked at $775.32 in afternoon trading, eclipsing the stock's previous record of $774.38 reached in early October. The company, which is based in Mountain View, Calif., went public at $85 in August 2004.

Meanwhile, the Dow Jones industrial average crossed 14,000 Friday for first time since October 2007 - near the bellwether's all-time high of 14,164. The broader Standard & Poor's 500 index, which includes Google Inc., also is flirting with a new record.

Google's stock has been on the upswing since the company reported its fourth-quarter earnings 10 days ago. The results showed Google is still enjoying strong growth in Internet advertising.

(Copyright 2013 The Associated Press. All rights reserved.)

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