Wall Street gains on housing but rally ebbs
NEW YORK (Reuters) – Financial and housing shares nudged Wall Street higher on Tuesday after existing home sales rose in April to their highest rate in nearly two years, but gains were capped by investors’ concerns about the global economic outlook. Shares of Facebook Inc fell as much as 9 percent at the open and hurt sentiment about tech shares as doubts about the company’s valuation increased after Reuters reported that Morgan Stanley , the lead underwriter, cut revenue forecasts for the social networking site shortly before the IPO. . . .
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