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Stocks move higher on Wall Street, breaking a losing streak; Facebook soars
NEW YORK, N.Y. – The stock market had its best day in six weeks after the government reported strong growth in the U.S. economy and several companies posted earnings gains.
Technology stocks were among the biggest winners Thursday. Facebook soared after reporting higher advertising revenue.
The Dow Jones industrial average rose 109 points, or 0.7 per cent, to close at 15,848.
The Standard & Poor’s 500 index climbed 20 points, or 1.1 per cent, to 1,794, its best day since Dec. 18.
The Nasdaq composite, heavily weighted with tech stocks, jumped 71 points, or 1.8 per cent, to 4,123.
Facebook rose $7.55, or 14 per cent, to $61.08. Its results were better than investors were expecting thanks to strong growth in mobile advertising revenue.
Three stocks rose for every one that fell on the New York Stock Exchange.
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