Posted: Thursday, January 30th 2014 at 4:47pm
Stocks rebound; Dow up 109
By The Associated Press
NEW YORK (AP) -- 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 percent, to close at 15,848.
The Standard & Poor's 500 index climbed 20 points, or 1.1 percent, to 1,794, its best day since Dec. 18.
The Nasdaq composite, heavily weighted with tech stocks, jumped 71 points, or 1.8 percent, to 4,123.
Facebook rose $7.55, or 14 percent, 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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