* Energy stocks rise after EIA inventory data
* Oil prices hit year's high above $77 a barrel
* Goldman Sachs, Citigroup slip after results
* Google jumps after bell following results
* Dow up 0.5 pct, S&P up 0.4 pct, Nasdaq up 0.1 pct
* For up-to-the-minute market news, click []
(Updates to close)
By Leah Schnurr
NEW YORK, Oct 15 (Reuters) - The Dow industrials and the
S&P 500 climbed on Thursday to 2009 closing highs, buoyed by
energy stocks as oil prices jumped, but financials retreated as
investors panned results from Goldman Sachs and Citigroup.
The Nasdaq eked out a slim gain, but shares of big-cap tech
companies, including Apple <AAPL.O> and Google <GOOG.O>,
dragged.
Google lost 1 percent to close at $529.91 on Nasdaq in the
regular session, but after the bell, the stock jumped 1.5
percent to $538.00 following results that beat Wall Street's
expectations.
U.S. crude oil futures<CLc1> hit a one-year high, rising
$2.40, or more than 3 percent, to settle at $77.58 a barrel
after data showed gasoline and distillate inventories fell
sharply in the latest week. Energy shares rose, with Chevron
Corp <CVX.N> up 1.6 percent at $76.69 on the New York Stock
Exchange.
While Goldman Sachs Group <GS.N> and Citigroup Inc's <C.N>
results exceeded forecasts, they failed to meet the lofty
standard set on Wednesday by JPMorgan Chase & Co <JPM.N>, the
first major bank to report earnings.
"It appears the market is reacting to the energy inventory
data, the strength in crude and the idea that the economic
recovery is firming," said Nick Kalivas, vice president of
financial research and senior equity index analyst at MF Global
in Chicago.
The Dow Jones industrial average <> gained 47.08
points, or 0.47 percent, to close at 10,062.94, a fresh 52-week
high. The Standard & Poor's 500 Index <.SPX> rose 4.54 points,
or 0.42 percent, to finish at 1,096.56, its highest close for
the year. The Nasdaq Composite Index <> added 1.06 points,
or 0.05 percent, to end at 2,173.29.
Goldman's earnings nearly quadrupled, largely because of
strong trading results. Citigroup's third-quarter loss was
narrower than expected, but the company booked $8 billion in
credit losses. For details, see [] and
[]
Goldman's stock fell 1.9 percent to $188.63 and Citigroup
shares shed 5 percent to $4.75, while an S&P financial index
<.GSPF> lost 0.7 percent.
"There's a lot of profit taking and rethinking of the
financial sector," Kalivas said. "I think the expectations for
Goldman Sachs were extremely high, and basically they couldn't
get themselves much over the whisper numbers."
On the economic front, data showed the Consumer Price Index
prices edged up in September and the number of workers filing
new claims for jobless benefits dropped to a nine-month low
last week. []
A sharp increase in New York state factory activity was
tempered by a report showing factory activity in the
Mid-Atlantic region grew less than expected.
Markets will continue to feel the push and pull of earnings
season as investors react to individual corporate results.
"Most money managers I know, while being respectful of the
upward momentum ... recognize there are significant long-term
problems and issues that need to be faced," said Jim Awad,
managing director at Zephyr Management in New York.
"I think they will be quick to pull the trigger -- if and
when the momentum dissipates."
(Editing by Jan Paschal)
