Market Commentary and Intraday News
News Summary: Investors like Europe's promises
294 days ago
By The Associated Press
ALL EYES ON EUROPE: For the second day, the stock market soared after European leaders promised to protect the union of 17 countries that use the euro. German chancellor Angela Merkel and Francois Hollande released a joint statement Friday to that effect, following a similar pledge the day before from European Central Bank president Mario Draghi.
THE DOW: The Dow Jones industrial average blew past 13,000, a marker it hasn't hit since early May. In two days, the Dow has climbed 400 points.
FACEBOOK FOLLY: Friday wasn't so bright for Facebook. Investors sent the shares down nearly 12 percent after the company reported that its revenue growth slowed in the second quarter. The stock has lost nearly 38 percent of its value since its initial pricing when it went public in May.
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