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US stocks mixed; Facebook soars, lifting Nasdaq

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(Globalpost/GlobalPost)

US stocks were mixed in early trade Thursday, with a strong surge in Facebook lifting the Nasdaq into positive territory.

The Dow Jones Industrial Average was down 51.76 (0.33 percent) at 15,490.48 by 1445 GMT.

The broad-market Standard & Poor's 500 edged down 1.48 (0.09 percent) to 1,684.46.

But the tech-rich Nasdaq Composite accelerated its gains, adding 11.75 (0.33 percent) at 3,591.35.

Sentiment was knocked by "a mixed read on domestic durable goods orders and a larger-than-forecasted increase in jobless claims," Charles Schwab & Co. said in a market note.

Facebook stole the spotlight, its shares skyrocketing 25.7 percent to $33.32.

The leading social network company's earnings report after the market closed Wednesday showed robust increases in ad revenue from mobile technology.

Caterpillar dragged down the Dow for a second day after reporting disappointing earnings. Shares in the world's biggest construction equipment maker tumbled 2.2 percent.

General Motors lost 0.5 percent after reporting second-quarter profit and revenue that beat expectations.

United Continental's results also beat estimates, with profit jumping 38 percent, but shares fell 0.7 percent.

Bond prices dropped. The yield on the 10-year US Treasury bond rose to 2.62 percent from 2.59 percent Wednesday, while the 30-year climbed to 3.67 percent from 3.65 percent. Bond prices and yields move inversely.

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http://www.globalpost.com/dispatch/news/afp/130725/us-stocks-mixed-facebook-soars-lifting-nasdaq