Investing.com - Facebook (NASDAQ:FB) rose sharply in midday trading, while energy stocks also gained. But real estate stocks struggled on interest-rate concerns.
Facebook stock climbed about 3.7% at 11:55 AM ET (15:55 GMT).
Also active was T-Mobile (NASDAQ:TMUS), up about 4.7%, and Sprint, up about 9%. T-Mobile announced a stripped-down $60-per-month wireless plan, which could help to convince regulars that the marketplace for mobile phone service would still be competitive if it approves T-Mobile’s proposed acquisition of Sprint.
Energy stocks gained as WTI oil futures surged, with the S&P Energy Sector index up about 0.5%.
Devon Energy (NYSE:DVN) climbed about 2.3% and Baker Hughes (NYSE:BHGE) rose about 2%.
But the S&P Real Estate Sector index lost about 0.4%. Worries about rising interested rates were piqued after JPMorgan Chase (NYSE:JPM) CEO Jamie Dimon said rates of 5% or more were “a higher probability than most people think.”
Regency Centers (NYSE:REG) was the biggest-losing component, falling about 1.4%.