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
- Mad about gas? You're to blameCentral Okanagan
- Warriors bury Express in openerBCHL
- School zones back inKelowna
- Teen's killer files appealVernon / N. Okanagan
|QHR Technologies Inc||1.37||+0.05|
|Anavex Life Sciences||0.223||-0.0031|
|Copper Mountain Mining||2.66||-0.02|
|Sunrise Resources Ltd||0.02||-0.005|
|Mission Ready Services||0.29||-0.01|
Last night I was privileged to be able to speak at the Greater Westside Board of Trade business awards dinner. Photo: ContributedI talked about Innovation and Collaboration which are two very interes...
There will be a time when you will need to decide who you should appoint as executor of your Will. As well, there may be a time when you will be asked by someone to act as the executor of his or her W...
Part 1 of 2 Photo: Thinkstock.com1. Move in with your parents or in-laws Explain that you're thinking strategically in moving back home. The quickest way to get into the housing market is to ma...