Wall Street topped off a strong week with a big rally Friday, after results from companies such as Citigroup Inc. and Google Inc. helped ease investor anxiety about the health of corporate profits. Investors have been worried that recent data indicate a slowing economy, which would cut into profit growth at some of the nation's biggest companies. But, results so far have shown that earnings, for the most part, are meeting or beating expectations, and the major indexes all posted gains of more than 4 percent for the week. Citigroup, the nation's biggest bank, encouraged investors with results that didn't contain any big surprises. The New York-based bank reported a loss of $5.1 billion during the first quarter because of poor bets on mortgages and leveraged loans, but the loss was half the $10 billion recorded for the preceding quarter. Google helped boost investor sentiment, as well as the tech-heavy Nasdaq composite index, by reporting first-quarter earnings and revenue growth that handily topped analysts' predictions. "This is the first week of earnings reports, and the marquee companies in general have been able to report good earnings, and the banks have been able to raise capital, and the market is responding to that," said Subodh Kumar, global investment strategist at Subodh Kumar & Assoc. in Toronto. ...
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