U.S. stocks rise slightly after retailers post strong earnings
Facebook decline continues
8/17/2012NEW YORK -- Some positive news from retailers boosted stocks just a little.
The Dow Jones industrial average rose 25 points today 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. And Groupon, the online coupon company, lost another 5 percent to close at $4.75.