Facebook lags while markets close higher

May 21, 2012 at 6:29 PM
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NEW YORK, May 21 (UPI) -- U.S. stock indexes rose Monday despite disappointing numbers posted by high-tech hopeful Facebook.

After its initial public offering Friday, Facebook shares backpedaled Monday, closing at $34.03, down $4.20.

The tech-heavy Nasdaq composite index, which won bragging rights by signing on the social network business, added 68.42 points, 2.46 percent, to 2,847.21. The blue chip Dow Jones industrial average added 135.10 points or 1.09 percent to 12,504.48. The Standard and Poor's 500 added 20.77 points, 1.6 percent, to 1,315.99.

On the New York Stock Exchange, 2,604 stocks advanced and 440 declined on a volume of 3.5 billion shares traded.

The benchmark 10-year treasury note was unchanged, yielding 1.745 percent.

The euro rose to $1.2812 from Friday's $1.278. Against the yen, the dollar rose to 79.28 yen from Friday's 79.01 yen.

In Tokyo, the Nikkei 225 index added0.26 percent, 22.58, to 8,633.89.

In London, the FTSE 100 index added 0.7 percent, 36.86, to 5,304.48.

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