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

7/25/2013
ASSOCIATED PRESS
Wall-Street-Premarket-126

Trader Neil Catania, left, and Mark Muller, right, confer on the floor of the New York Stock Exchange Monday, July 22, 2013. Asian stocks dipped Thursday July 25, 2013 as investors prepared for a slew of earnings reports in coming days that will give a reading of how confident companies are in the outlook for major economies. Improved German business confidence boosted European markets. (AP Photo/Richard Drew)

ASSOCIATED PRESS

NEW YORK — Stocks closed with modest gains on Wall Street today.

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

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.