Stocks Finish Higher; Facebook Shares Close Above $40

Business

0  Updated at 2:41 pm, August 23rd, 2013 By: ABC Digital
Share This Story

Hemera/Thinkstock(NEW YORK) — U.S. stocks recovered Friday from an early stumble after a report that new home sales plunged 13 percent in July to the lowest level in three years due to rising mortgage rates.
 
The Dow Jones Industrial Average rose 46.77 points to close at 15,010.51. The S&P 500 jumped 6.54 points, while the Nasdaq Composite added 19.08 points one day after being shut down for three hours due to a technical glitch.
 
Microsoft shares advanced almost 8 percent after CEO Steve Ballmer announced he  will retire in 12 months. He has worked at the company for 33 years.
 
Facebook’s stock comeback continued Friday. Though shares of the social networking company fell into the teens last fall, its stock is  now solidly above its IPO price, closing at $40.55 a share.
 
Facebook’s stock has doubled in the last year and since the start of 2013 it’s up 50 percent.
 
Copyright 2013 ABC News Radio



Stories You May Be Interested In:

Why Volvo’s self-driving garbage truck spends most of its time in reverse

18 May 2017

Matt McFarland, CNN

Pachangas restaurant moving to new location

22 May 2017

Paul Menser, BizMojo Idaho

EAST IDAHO NEWSMAKERS: The owners of Fin Fun

21 May 2017

Nate Eaton, EastIdahoNews.com