Dow Climbs into Positive Territory; Facebook Continues to Slide
(NEW YORK) — An encouraging read on the housing market helped push the markets up to start the week. The Dow closed up 126 points Tuesday, while the Nasdaq and S&P added 33 points and 15 points, respectively.
There are more signs that the housing market is recovering, though it is happening very slowly. The latest Standard and Poors/Case-Shiller Home Price Index shows home prices rising in a number of cities for the first time in seven months. The biggest gains were in Phoenix, Seattle and Dallas, while prices fell in Detroit, Chicago and Atlanta. Overall, they’re still lower than this time last year.
Meanwhile, Facebook investors continued to grow more concerned about the social network’s long-term potential to grow. The company’s shares Tuesday fell to $28.84 in 4 p.m. trading, according to the Wall Street Journal. Facebook stock is now down more than 20 percent from its IPO on May 18, WSJ reports.
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