Nasdaq likes Facebook's surge, but earnings curb Dow, S&P
NEW YORK (REUTERS) - The Nasdaq climbed on Thursday, led by a rally in Facebook a day after its earnings, but the broader market's advance was modest after another round of mixed earnings reports.
Facebook Inc shares scored their biggest daily percentage gain ever - soaring 31.6 per cent to a session high of $34.88 a day after the online social network company reported a huge jump in mobile advertising revenue. The stock closed at $34.36, up 29.6 per cent, and topped the Nasdaq's list of most actively traded names.
Disappointing earnings in the cyclical sector limited the gains in both the Dow and the S&P 500.
Caterpillar Inc was the biggest drag on the Dow, falling 1.6 per cent to $82.14. The stock slid for the second day, extending a selloff that began on Wednesday after the world's largest maker of mining and construction equipment cut its 2013 earnings forecast.