The Nasdaq composite hit a record high on Friday on strong results from Google, while the Dow and the S&P 500 fell, dragged down by Boeing and energy stocks.

Citigroup reported its highest quarterly profit in eight years and its shares rose 3.77% to a six-and-a-half year high of $58.59. The Nasdaq composite (INDEXNASDAQ:.IXIC) gained 46.96 points, or 0.91 percent, to finish at an all-time high of 5,210.14.

The Standard & Poor’s 500 index gained 11 points, or 0.5 percent, to 2,118.

The Dow Jones Industrial Average (DJIA – 18,086.45) spent the day in the red, settling on a loss of 33.8 points, or 0.2%.

“We’re now watching earnings come out, with the background of what’s going on internationally”, said Bill Schultz, who oversees $1.2 billion as chief investment officer at McQueen, Ball & Associates in Bethlehem, Pennsylvania. Chalk it up to the blow-out earnings from tech giants like Netflix (NFLX) and Google (GOOGL), which posted double-digit gains following their releases. “There’s nothing right now that looks like there’s an impediment to pushing stocks higher or causing a selloff”.

The Nasdaq Internet Index was on track for its best weekly climb since December 2011, with Google and Netflix each rising more than 18 percent during the period.

The Nasdaq composite climbed 64.24 points, or 1.3 per cent, to 5,163.18.

Investors have been keeping a sharp eye on economic data for clues regarding the timing of the first interest rate increase in almost a decade.

Another report showed consumer confidence declined more than forecast in July on concerns global risks will dim prospects for the USA economy, while consumers remained upbeat about employment and wages.

Volume was a bit light, with about 6.1 billion shares traded on United States exchanges, below the 6.6 billion average so far this month, according to BATS Global Markets.

Other strategists sound anxious, especially by the aggressive buying of tech stocks. Etsy (ETSY.O) spiked 30 percent thanks to a nod from Google during its conference call. “We’re not growing at 5 percent but we have slow, steady growth and I think that continues”.

General Electric (GE – Get Report) added 0.7% after reporting a strong quarterly performance in its industrial business.

Semiconductors fell, paced by Intel’s 1.4 per cent retreat. Analysts project earnings for members of the gauge dropped 6.4% in the second quarter. Qorvo Inc. decreased 1.9 percent. Transocean Ltd. and Range Resources Corp. dropped at least 4 percent to four-month lows.

Newmont Mining slumped 3.2 per cent to a six-month low, while Barrick Gold slid 4.9 per cent to a more than 24-year low as gold dropped to the lowest since 2010.