Stock Markets Latest News: Facebook Passes IPO Price for 1st Time Since IPO

Wochit 0:52 mins

Facebook's stock price has passed its $38 IPO price for the first time since its rocky initial public offering more than a year ago. Shares of Facebook Inc. are up 1.2 percent to $38.08 in morning trading. Stock futures were mixed in very light trading with most investors in a holding pattern ahead of a statement from the U.S. Federal Reserve. Wall Street lacked direction as it awaited the week?s main economic news, and the stock market wandered between slight gains and losses before closing barely higher. Traders were especially disinclined to make big bets before the Federal Reserve issues its policy statement

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