US stocks move higher, breaking a losing streak; Facebook jumps 15 per cent
NEW YORK, N.Y. - Stocks are higher on Wall Street after the government reported strong growth in the U.S. economy and Facebook had a big earnings gain.
The market was recovering from a steep decline the day before.
The Dow Jones industrial average rose 149 points, or 1 per cent, to 15,888 as of noon (1700 GMT) Thursday.
The Standard & Poor's 500 index climbed 22 points, or 1.3 per cent, to 1,796. The Nasdaq jumped 80 points, or 2 per cent, to 4,131.
Facebook rose $8.51, or 16 per cent, to $62.05. The social media company reported results late Wednesday that were better than investors were expecting, thanks partly to growth in mobile advertising revenue.
The government reported that the U.S. economy grew at a 3.2 per cent annual rate in the final three months of last year.
Read more Business News
- Man killed by horned cowVernon / N. Okanagan - 5:00 pm
- Industrial zone floodedKelowna - 4:45 pm
- Orchardists busy after rainfallPenticton / S. Okanagan - 6:00 pm
- Smith Creek: fully containedWest Kelowna - 11:07 am
|QHR Technologies Inc||1.17||+0.02|
|Anavex Life Sciences||0.28||-0.045|
|Copper Mountain Mining||2.82||+0.06|
|Sunrise Resources Ltd||0.025||-0.005|
|Mission Ready Services||0.19||+0.01|
The Big Picture Geopolitical tensions rattle markets The spectre of rising geopolitical tensions in Ukraine and Gaza cast a shadow over an otherwise positive week in the markets. News that a passenger...
The mainstream media are finally waking up to something unusual in British Columbia – a labour shortage. If the experience of Alberta is a guide to our own future, the highly skilled labour will...
Photo: ContributedI have the pleasure of witnessing people delegate tasks quite often. Sometimes with tremendous success and sometimes with disastrous consequences. I have chaired a lot of committees...