US stocks rise, helped by Facebook, US GDP

AP News
Posted: Jan 30, 2014 9:50 AM

NEW YORK (AP) — U.S. stocks are rising in early trading, helped by strong earnings from Facebook and a report that the U.S. economy grew at an annual rate of 3.2 percent in the fourth quarter.

Major U.S. indexes on Thursday began recovering from steep declines the day before. The Dow Jones industrial average rose 72 points, or 0.5 percent, to 15,811 five minutes after the market opened. The Standard & Poor's 500 index climbed 14 points, or 0.8 percent, to 1,789. The Nasdaq jumped 50 points, or 0.6 percent, to 4,102.

Facebook rose $8.26, or 15 percent, to $61.79. The social media company reported results late Thursday that beat expectations.

A report showed the U.S. economy grew at a 3.2 percent annual rate in the final three months of 2013, a positive sign.