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Stock Markets - Feb. 3, 2012 - CNNMoney

money.cnn.com — By CNNMoney staff @CNNMoneyMarkets February 3, 2012: 9:42 AM ET NEW YORK (CNNMoney) -- U.S. stocks rallied at the open Friday, as investors cheered a much stronger-than-expected report on January job growth. The Dow Jones industrial average (INDU) gained 112 points, or 0.9%, the S&P 500 (SPX) added 13 points, or 1%, and the Nasdaq composite (COMP) increased 28 points, or 1%.
RT @christineromans: Dow at 4-year high. Nasdaq at 11-year high. Jobs news is relief from months of Europe worries. http://t.co/YcmpkufM

Big drop in unemployment rate for blacks

money.cnn.com — By Tami Luhby @CNNMoney February 3, 2012: 1:28 PM ET NEW YORK (CNNMoney) -- The unemployment rate for blacks fell more than 2 percentage points last month to its lowest level since March 2009. The drop puzzled economists, who cautioned that it's too early to say that a job market recovery for blacks is underway.
RT @BlackInAmerica: Black unemployment rate dropped more than 2% to 13.6% in January; economists puzzled at why http://t.co/vERi41eM via ...

Mortgage servicing talks could yield foreclosure settlement

money.cnn.com — By Jennifer Liberto @CNNMoney February 3, 2012: 5:19 AM ET Housing Secretary Shaun Donovan is one of the participants in the foreclosure settlement talks that are expected to produce a mortgage settlement soon. WASHINGTON (CNNMoney.com) -- States have until late Monday to agree to the latest draft deal aimed at relieving homeowners struggling with mortgages bigger than their home's value.

January jobs report: Hiring ramps up, unemployment falls

money.cnn.com — By Annalyn Censky @CNNMoney February 3, 2012: 8:37 AM ET NEW YORK (CNNMoney) -- American employers substantially stepped up their hiring in January, bringing the unemployment rate down for the fifth month in a row. Employers added 243,000 jobs in January, the Labor Department reported Friday, marking a pick-up in hiring from December, when the economy added 203,000 jobs.
RT @CNNMoney: RT @AnnCensky: Jobs report revisions means 180,000 more jobs created in 2011 than originally thought http://t.co/CreKYckb

Mortgage rates hit a record low

money.cnn.com — By Les Christie @CNNMoney February 2, 2012: 1:35 PM ET NEW YORK (CNNMoney) -- Just one day after President Obama detailed a proposal to enable millions of homeowners to refinance to record-low mortgage rates, those rates notched another record.
If you're a 22 yo, have a FICO over 700 has never been more valuable #LowMortgageRate http://t.co/q7yb8ro5

Facebook's stunning growth - and billionaires

money.cnn.com — Launched eight years ago in Mark Zuckerberg's dorm room, Facebook snowballed in recent years. The company makes money in two ways: Selling ads and collecting a fee from the app makers who use its Facebook Credits system. Facebook has no plans to ever charge its members for using the site.
RT @CNNMoney: RT @CNNMoneyTech: An illustrated tour of Facebook's IPO filing -- peek inside the billionaire's club http://t.co/zkHhWat1

From six figures to $15,000

cnn.money.com — Meet one family of five that is barely getting by on what they describe as 'teenage salaries' Habitat for Humanity has teamed up with the city and federal government to fix up foreclosed homes for working families. A New Jersey family goes from earning more than $100,000 a year to joining the ranks of the long-term unemployed.
CNN does feature on household with little income, but treats the whole family like anonymous sources: http://t.co/WZcGOcjK

Facebook's IPO: Morgan Stanley big winner

money.cnn.com — By Maureen Farrell @CNNMoneyMarkets February 1, 2012: 5:14 PM ET Morgan Stanley led some of the biggest tech IPOs, including Google, Zynga and LinkedIn. NEW YORK (CNNMoney) -- If there's a crown jewel in the world of initial public offerings, it's Facebook. And the banking winner is Morgan Stanley (MS, Fortune 500).
FACEBOOK: Morgan Stanley is the big winner in the FBIPO, as it scores the role of lead underwriter. http://t.co/TK3k7NEg $MS
RT @cnnmoney: Morgan Stanley is the big winner in the Facebook IPO, as it scores the role of lead underwriter. http://t.co/yMJYm3dV $MS
RT @CNNMoney: Morgan Stanley is the big winner in the Facebook IPO, as it scores the role of lead underwriter. http://t.co/uCPRLksA $MS

Who owns Facebook?

cnn.money.com — CNNMoney looks at the people who make up the biggest investors in Facebook. President Obama and Indiana Gov. Mitch Daniels cite the Apple co-founder as a model entrepreneur and job creator. Kogeto's Dot, a 360-degree camera for iPhones, started as an idea seeking funding on Kickstarter last May that is now on sale in Apple stores.

Zuckerberg's Facebook stake is worth at least $16 billion

money.cnn.com — Why is Mark Zuckberg smiling? Because he's rich. NEW YORK (CNNMoney) -- At age 27, Mark Zuckerberg is about to officially become a paper billionaire. In the IPO paperwork Facebook filed Wednesday, the company reported that its founder and CEO owns around more than a quarter of the company.
FACEBOOK: Why is Mark Zuckerberg smiling? Because his Facebook stake is worth around $16 billion http://t.co/Tw7HnH60
RT @cnnbrk: Facebook says stock worth $29.73 a share; Zuckerberg holds 534 million shares worth $16 billion http://t.co/CZ3xRvh6

Facebook IPO filing: Plans to raise $5 billion

money.cnn.com — Facebook's IPO is likely to make founder Mark Zuckerberg a paper billionaire. NEW YORK (CNNMoney) -- At long last, the Holy Grail of Internet IPOs is here. Facebook filed Wednesday to raise $5 billion in an initial public offering. In 2011, Facebook earned $1 billion on sales of $3.7 billion.

American Airlines: We'll have 'many fewer' jobs

money.cnn.com — The union representing American Airlines maintenance workers believes the company is getting ready to shift some of those workers overseas. NEW YORK (CNNMoney) -- Executives at American Airlines' parent warned its unions Wednesday that deep cuts are coming to the staff of 88,000 at the nation's No. 3 airline. AMR Corp.
RT @MONEY: The American way indeed: Bankrupt American Airlines to lay off 13,000 workers http://t.co/nH7RdhnX @cnnmoney
RT @CNN: American Airlines plans to cut 13,000 jobs in its attempt to emerge from bankruptcy: http://t.co/JS0yNbgL

Top 10 turnaround towns

money.cnn.com — Miami's market recovery has already begun -- although many people don't realize it yet. "The image of Miami real estate has been rows of empty towers, cranes sitting idle and stalled construction sites," said Jonathan Miller, president of appraisal firm Miller.

Wall Street bets big on Romney

money.cnn.com — By Jennifer Liberto @CNNMoney February 1, 2012: 3:42 PM ET Mitt Romney led all presidential rivals in contributions from financial services industry firms and workers in 2011, followed by President Obama, Newt Gingrich, Ron Paul and Rick Santorum. WASHINGTON (CNNMoney) -- Wall Street has thrown its weight behind alum Mitt Romney for president, according to new campaign data for 2011.

Obama proposes home loan refinancing plan

money.cnn.com — By Les Christie @CNNMoney February 1, 2012: 12:49 PM ET NEW YORK (CNNMoney -- President Barack Obama proposed a plan aimed at helping millions of homeowners refinance their mortgages to today's historically-low rates. To pay for it though, he'll need $5 billion to $10 billion.

Letter from Mark Zuckerberg: 'The Hacker Way'

money.cnn.com — NEW YORK (CNNMoney) -- Facebook filed Wednesday to raise $5 billion in an initial public offering. Here is CEO Mark Zuckerberg's letter to potential investors. Facebook was not originally created to be a company. It was built to accomplish a social mission to make the world more open and connected.
FACEBOOK: Mark Zuckerberg's letter to investors: 'The Hacker Way': http://t.co/O3hGm4e3

Facebook IPO highlights "The Hacker Way"

money.cnn.com — Mark Zuckerberg's letter to shareholders lays out his belief in "the hacker way." NEW YORK (CNNMoney) -- In a letter to investors included in Facebook's IPO filing, CEO Mark Zuckerberg outlined his philosophy for running what has become a multi-billion-dollar business. At core of that philosophy: Love your hackers.
Here's the latest! Facebook IPO highlights 'The Hacker Way' http://t.co/L1R4WVQw and now I'm off IPO duty for the evening.

Wall Street bets big on Romney

money.cnn.com — By Jennifer Liberto @CNNMoney February 1, 2012: 3:42 PM ET Mitt Romney led all presidential rivals in contributions from financial services industry firms and workers in 2011, followed by President Obama, Newt Gingrich, Ron Paul and Rick Santorum. WASHINGTON (CNNMoney) -- Wall Street has thrown its weight behind alum Mitt Romney for president, according to new campaign data for 2011.

Facebook IPO filing: Plans to raise $5 billion

money.cnn.com — Facebook's IPO is likely to make founder Mark Zuckerberg a paper billionaire. NEW YORK (CNNMoney) -- At long last, the Holy Grail of Internet IPOs is here. Facebook filed Wednesday to raise $5 billion in an initial public offering. In 2011, Facebook earned $1 billion on sales of $3.7 billion.
PROFIT $1BN: Facebook files $5 billion IPO revealing massive gains last year + 845mn users http://t.co/pdr8U5Vp via @CNNMoney #CNN