Stocks staged a convincing turnaround this week as a proposed deal to bail out Greece gained traction alongside surprisingly upbeat earnings announcements. The SPDR S&P 500 ETF Trust (NYSE: SPY) gained over 2 percent this week, while the technology-oriented PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ: QQQ) jumped over 5 percent.
QQQ has been driven by solid momentum in Internet stocks such as Facebook Inc (NASDAQ: FB), Amazon.com, Inc. (NASDAQ: AMZN) and Netflix, Inc. (NASDAQ: NFLX). However, the standout performer on Friday was Google Inc (NASDAQ: GOOG) (NASDAQ: GOOGL), which reported better than expected earnings and hit a new 52-week high.
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