Dow Jones industrial average and S&P 500 inch higher; Facebook soars as mobile ads increase

  • Updated: July 25, 2013 - 3:20 PM

NEW YORK — Stocks are closing with modest gains on Wall Street.

Technology stocks fared far better than the rest of the market Thursday.

Facebook soared 30 percent to $34.36 after reporting earnings late Wednesday that easily beat the forecasts of Wall Street analysts as mobile ad revenue rose.

The Dow Jones industrial average edged up two points, just 0.02 percent, to close at 15,544.

The Standard & Poor's 500 index rose four points, or 0.03 percent, to 1,690. The tech-heavy Nasdaq composite rose 19 points, or 0.6 percent, to 3,599.

Home builder PulteGroup plunged 12 percent to $16.16 after reporting a 14 percent drop in profits.

Rising and falling stocks were evenly split on the New York Stock Exchange. Volume was very light at 1.9 billion shares.

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