US stocks hit new records; Facebook slumps on News Feed changes
iStock/Thinkstock(NEW YORK) — The major indexes finished the week with new records as bank stocks and retailers led the way in gains.
The Dow Jones Industrial Average soared 228.46 (+0.89 percent), finishing the session at 25,803.19.
The Nasdaq climbed 49.28 (+0.68 percent) to close at 7,261.06, while the S&P 500 finished trading at 2,786.24, up 18.68 (+0.67 percent) for the day.
Crude oil prices were nearly 1 percent higher at about $64 per barrel.
Winners and Losers: Retailers continued to rally after strong holiday sales, with shares of Target (+3.78 percent) and Kohl’s (+4.50 percent) climbing. Kohl’s stock was also upgraded by both RBC Capital and J.P. Morgan.
Shares of Bank of America jumped 1.73 percent.
After Facebook announced changes to its “News Feed,” the social media giant’s stock tumbled 4.47 percent.
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