What's Driving the Dow's Pop Today
The following video is part of our "Motley Fool Conversations" series, in which consumer goods editor and analyst Austin Smith discusses topics across the investing world.
In today's edition, Austin gives investors a quick update on what's moving the markets today. Encouraging data was released that showed a rise in existing home sales in April. This set a new -- nearly two-year -- high-water mark. The report sent broad market shares higher early on, but then the Dow fell back in late afternoon trading as macroeconomic worries creeped up and engulfed investors' yet again. The new kid on the block, Facebook, continues to dominate the airwaves as well, with many on and off Wall Street disappointed in its IPO pop (or lack thereof).
Yet all the buzz around this social media monster could prove off-base, as Facebook has real problems converting its millions of members into revenue. We've created a new report, "Forget Facebook -- Here's the Tech IPO You Should Be Buying," which details a much better social media stock that has a longer runway for growth than Facebook. The report won't be available forever, so click here to get access today -- it's totally free.
At the time this article was published Austin Smithhas no positions in the stocks mentioned above. The Motley Fool owns shares of Bank of America and JPMorgan Chase. Try any of our Foolish newsletter servicesfree for 30 days. We Fools may not all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. The Motley Fool has adisclosure policy.