Stocks Bounce Back from Losing Streak


0  Updated at 3:02 pm, May 21st, 2012 By: ABC Digital
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iStockphoto/Thinkstock(NEW YORK) — The market regained some lost ground Monday.
Stocks rose following a report that shows economists are more optimistic about housing and employment. The Dow had its best day since April 17. The index rose 135 points to 12,504 Monday.

The Nasdaq closed up 68 points, though shares of Facebook plunged nearly 11 percent to $34.03 in its second day of trading — well below the $38 IPO price.

The S&P added nearly 21 points Monday to close at 1,315.

The average price for a gallon of regular gas in the U.S. is $3.71, down $0.04 from a week ago and $0.13 from one year ago.

Meanwhile, a new survey by the National Association for Business Economists shows economists are forecasting modest, but steady, economic growth this year, with the pace picking up next year.

Copyright 2012 ABC News Radio

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