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Market Recap: Retail Reports Send Stocks Up, Facebook Continues to Bomb

Markets closed up today:

▲ Dow: +0.19 percent

▲ Nasdaq: +0.46 percent

▲ S&P: +0.19 percent

Precious metals:

▲ Gold: up +0.10 percent to $1,614.70 an ounce

▼ Silver: down -0.51 percent to settle at $28.02


▲ Oil: +1.10 percent

Markets were up because:

Some positive news from retailers boosted stocks just a little.

The Dow Jones industrial average rose 25 points to close at 13,275. The Standard & Poor's 500 index rose almost three points to close at 1,418. The Nasdaq rose 14 points to close at almost 3,077.

Retail stocks rose on positive earnings and outlooks from Gap Inc. and Ann Inc., the parent of retailer Ann Taylor.

Apple hit a new high, rising almost 2 percent to $648.11.

However, declines continued for Facebook and Groupon, the online coupon company.

Facebook hit $19, half the value of its initial public offering. It closed at $19.07. Can we say at this point that the company’s IPO has been a disaster?

Groupon, the online coupon company, lost another 5 percent to close at $4.75.

The Associated Press contributed to this report.

One last thing…
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