Google Stocks Surges, help Nasdaq to close on record high

Last Friday Google stocks surges by 16% that helps Nasdaq setting a new record high. The 16% sudden increase in Google's publicly traded stock resulted to additional $65.1 billion in shareholder wealth, on paper.

Google's surge came after the search engine company reported quarterly earnings that exceeded analyst estimates for the first time since late 2013. The company's inability to hit the targets that steer investors had raised doubts about Google that had caused its stock to lag the rest of the market since the end of 2013.

Other players, Honeywell global Inc (HON) were up by 1.9% or $2.04 to $105.61. Yahoo, which holds a large stake in Alibaba, increased by 2%. Consumers remained upbeat about employment and wages. The railroad’s gain helped boost the Dow Jones Transportation Average by 0.7 percent.

Greek financial crisis

German Finance Minister Wolfgang Schaeuble said that Berlin refuse to give Greece an actual debt cut when he arrived at a meeting with his counterparts in the 19-country Eurozone.

He said that without an aid program it is not possible to help Greece within the framework of the Eurozone. Berlin is reluctant to consider a debt cut for Greece. The Greece is asking for a debt relief to be near the top of bailout discussions. It doesn't necessarily mean an actual reduction in the amount owed but an extension to the country's repayment schedule.

Schaeuble said actual debt cuts are banned under European rules.

Lithuania just began using the euro currency this 2015 and doesn't want the 19-country single currency club to start losing members now. Lithuanian Finance Minister Rimantas Sadzius said a Greek exit "is not an option for us," as arrived for the meeting of Eurozonefinance ministers in Brussels to discuss a possible new bailout deal for Athens.

Sadzius said he believes common ground can be found. Greece's new finance, Euclid Tsakalotos is set to unveil new proposals to his peers in the Eurozone.

"In politics, there is always room for compromise," said Sadzius. "We believe that the Eurozone should expand rather than contract."