The shares of the business social network LinkedIn climbed by 10% during the first 30 minutes of the trading session in New York. The price of the shares was over $120 which is the historic maximum. The reason for the share’s ascending was the information about successful sales in the first quarter (the growth was twofold). Moreover, the number of the registered users for three months increased by 8% from 150 to 161 million people. LinkedIn held one of the largest IPO in the USA in May of 2011. The price of the shares then was equal to $45 per unit, meaning almost three times as low as the current level. On the whole the U.S. stock market started the session on the negative side for the second day in a row. Dow Jones slowed by 0.93%, NASDAQ and S&P 500 declined by over 1%. The major negative pressure was exerted by the labour market. The data of the Labour Department showed that in April of 2012 the U.S. economy created only 115,000 jobs which is less than expected. This indicator value demonstrates that the economic recovery is losing pace.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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