Facebook is being investigated by the Senate Banking Committee over their validity in their IPO. We will see where this story goes.
Between oil diving another dollar plus to its' lowest levels since October 2011 at $89.90 and talk of Greece possibly leaving the Euro Union, the Dow went through a 200 point swing in less than two hours.
Down 170 points by early afternoon, it did manage to tick up three in the final minutes of trading before settling back down nearly 10 points. All of the other indexes finished up on the day.
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Stocks went up again, but oil finished down a little over $1 to a tad over $91 per barrel.
Yet, Facebook got all the headlines--and for all the wrong reasons, down over $3. Morgan Stanley may be the biggest to blame for why their IPO is failing after only two days. My, oh my--how times have changed.
Not exactly the start Mark Zuckerberg and Friends were hoping for, huh?
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Down $3.40 was Facebook, but stocks more than made up for a lackluster week last week. We will see what happens next, right?
The Dow was over 130, while the Nasdaq had its' biggest percentage gain of 2012 to date...up nearly 2 percent.
News from China and the quelling of protesters from the last day of the NATO Summit in Chicago prompted very good numbers. However, volume was light. And yes, oil crept up a bit--only by $1.20 to a shade over $92 per barrel.
In Menlo Park, California--it had the feeling of being at a rock concert.
Facebook CEO Mark Zuckerberg rang the opening bell for NASDAQ as they made their debut under the ticker symbol FB.
After an initial problem getting started, it took 15 minutes before the initial IPO of $38 was offered. Even with an opening price of $42.05 per share, most analysts were hoping for a level between $25 to $30 to engage in more public interest.
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GOLD HAS REBOUND FROM 1518$ TO 1589 $ FROM WEDNESDAY ON THE NEWS DRIVEN BY US FOMC TO MIGHT PROVIDE STIMULUS TO ECONOMY IF RECOVERY LOOSE MOMEMTUM .SO STILL SHORT CAN BE MADE IN GOLD WITH THE VIEW OF 1475 $ WITH A 1 MONTH VIEW OR MORE N TRY TO AVOID LONG POSITION IN GOLDON THIS UPSIDE UNSUSTAINBLE RALLY.EVEN THOUGH GREECE N EUROPE CONCERNS R STILL PERSISTING IN MARKETS THERE IS NO WAY A UPSIDE FOR GOLD TO SUSTAIN N CONTINUE ONLY N IF US FOMC DECLARES QE3.AND EURO ITSELF CAN MAKE NEW LOW IF GREECE DEFAULT OR EXITS FROM EURO ZONE
$38 per share, as Facebook looks to join in the leagues of IBM and UPS as America's largest initial IPO's in history.
The first bits are scheduled to go public at 10:45 a.m. Eastern and the first trades will go public at approximately 11 a.m. Eastern time.
Historic day coming up--even though stocks again failed to hang on to any gains from earlier in the day. Oil went down another quarter, to around $93.25 per barrel, but gold managed to spike a bit upward.