News Summary: Dow records a rare gain of 125

AP News
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Posted: May 29, 2012 5:01 PM
News Summary: Dow records a rare gain of 125

DOW GAINS: The Dow Jones industrial average closed up 125.86 points, only the fifth gain this month. Investors were hopeful that China is poised to rev up its economic growth machine and that the upcoming elections in Greece will help keep the country from leaving the euro.

OIL, EURO, BONDS: Oil prices fell, the euro sank to a 22-month low, and the yield on the U.S. government's 10-year Treasury note sank near a historic low after a report suggested that Spain will have more trouble repaying its debts.

FACEBOOK OFF: Facebook's stock plunged 10 percent to $28.84, shaving off $25 billion of the company's market value in its first seven days of trading.