Facebook stock slips 11 percent on second day of trading
NEW YORK (AP) — U.S. stocks are closing higher, snapping a days-long losing streak.
The Dow Jones industrial average closed up 135 points at 12,504 Monday, May 21st. That’s a marked change from its recent performance, which has been crippled by worries about debt-riddled Greece.
The Dow fell for each of the past six days, and last week was its worst since November.
The Standard & Poor’s 500 is up 21 to 1,316. The Nasdaq composite index rose 68 to 2,847.
The gains were broad and covered nine of the 10 industry groups in the S&P; telecommunications was the only sector that fell. For every stock that declined on the New York Stock Exchange, roughly five rose.
Facebook was an exception, slipping 11 percent on its second day of trading. JPMorgan Chase fell 3 percent.