Facebook Shares Surge, Wells Fargo Says Rate Hike may Come Sooner

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Facebook Shares Surge, Wells Fargo Says Rate Hike may Come Sooner

TheStreet.com Videos 1:10 mins

U.S. markets are flat at midday on Thursday. Facebook (FB) hit new levels after blowing away Wall Street's expectation with its Q2 earnings report after the close on Wednesday. But Angie's List (ANGI) is down more than 20% after missing estimates. Major markets are hovering around record levels as investors weigh earnings and fresh economic data. Mixed news on the economic front. New home sales in June were less than expected. Better news from the weekly jobless claims front greeted traders before the opening bell. The number of Americans applying for jobless benefits fell to its lowest level in more than 8 years. News that Wal-Mart (WMT) will get a new CEO is sending shares lower. TheStreet's Susannah Lee reports from Wall Street.

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