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NEW YORK (CNNMoney) -- A plunge in Facebook's stock didn't faze the broader U.S. market Monday. U.S. stocks bounced back from their worst week of the year on renewed optimism that European leaders would find a way out of the sovereign debt crisis.

The Dow posted its biggest gain in over a month, while the S&P 500 delivered its best performance in over two months. The tech-heavy Nasdaq enjoyed its best gains of the year.

"I think it's just more of a relief rally after being down so many sessions in a row," said Dave Rovelli, managing director at Canaccord Adams. "People are looking for stocks that have sold off a bit."

Over the weekend, the Group of Eight nations met and reaffirmed their commitment to keeping Greece in the eurozone. And two opinion polls released in Greece reportedly put the pro-bailout New Democracy party ahead of the anti-austerity Syriza party.

The combination of the G8 and the poll results was enough to boost sentiment across world markets, with European and Asian stocks eking out gains and the euro holding steady at around $1.28 against the U.S. dollar.

Paul Zemsky, head of asset strategies for ING Investment Management, said the rally was the result of "a smidgen of good news in an oversold market."

"You had a tremendous amount of pessimism, but nothing bad came out of Greece this weekend," he said. "There's some optimism that perhaps the Greek people are realizing how damaging it would be for them to leave [the eurozone]."

The Dow Jones industrial average (INDU) rose 135 points, or 1.1%. Blue chips, including Caterpillar (CAT, Fortune 500), Boeing (BA, Fortune 500) and IBM (IBM, Fortune 500) led the gains.

The S&P 500 (SPX) gained 21 points, or 1.6%, and the Nasdaq (COMP) rose 68 points, or 2.5%.

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Stocks rebound on Europe hopes

Facebook is updating its status to 'public company' as its stock jumps in its debut on the Nasdaq stock market.

The stock rose to $US42.05 on Friday morning. CEO Mark Zuckerberg smiled as he rang the opening bell from Facebook's headquarters in Menlo Park, California. Surrounded by cheering Facebook employees and wearing his signature hoodie, the 28-year-old pushed the button that signals the opening of the stock market in New York.

On Thursday, Facebook and the investment bankers arranging the initial public offering (IPO) settled on a price of $US38 per share. The company and its early investors raised $US16 billion ($A16.23 billion) in the offering, which valued Facebook at $US104 billion. That makes Facebook the most valuable US company to go public.

Now, the stock market will assign a dollar value to Facebook that will rise and fall with investor whims. It will be subject to broad economic forces as well as how much profit it earns from one quarter to the next.

But Facebook is one of the rare companies whose IPO transcends Wall Street's money lust to become a cultural touchstone for the way technology is reshaping our lives. Since its start as a scrappy network for college students, Facebook has come to define social networking by getting 900 million people around the world to share everything from photos of their pets to their deepest thoughts.

It has done so while managing to become one of the few profitable internet companies to go public recently. It had net income of $US205 million in the first three months of 2012, on revenue of $US1.06 billion. In all of 2011, it earned $US1 billion, up from $US606 million a year earlier. That's a far cry from 2007, when it posted a net loss of $US138 million and revenue of $US153 million. The company makes most of its money from advertising. It also takes a cut from the money people spend on virtual items in Facebook games such as FarmVille.

Facebook's public debut marks a new milestone in the history of the internet - and the people who use it. In 1995, Netscape Communications' IPO gave people their first chance to invest in a company whose graphical web browser made the internet more engaging and easier to navigate. Its hotly anticipated IPO lit the fuse that ignited the dot-com boom and culminated five years later in a devastating bust that obliterated the notion that the internet had somehow hatched a new economy where making money no longer mattered.

It took Google Inc's IPO in 2004 to prove just how profitable a well-run internet company with a disruptive idea can be. In the process, the internet search leader has forced other industries to adapt to a new order where people have come to expect to be able to find just about anything they want by entering a few words into a box on any device with an internet connection.

Facebook's IPO underscores an internet evolution that has made the understanding of connections among people as important as Google's massive index of Web links. Now that Facebook will be under greater pressure to sell more advertising to bring in more revenue, this IPO also cast a brighter light on how just how much revealing information that people have been sharing the past few years without fully understanding the implications.

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Facebook stocks climb

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NEW YORK (CNNMoney) -- Stocks closed out an ugly week. Despite initial euphoria surrounding Facebook's public debut, the social network's shares barely popped above its offering price and failed to inspire investors to buy into the broader market.

All three indexes clocked their worst weekly losses of the year, finishing at the lowest levels since January.

U.S. investors focused on the global issues plaguing world markets Friday, which pushed stocks down for the third straight week.

On Friday, the Dow Jones industrial average (INDU) lost 73 points, or 0.6%. The index is down 3.5% for the week.

The S&P 500 (SPX) slipped 10 points, or 0.7%, and 4.3% for the week. The Nasdaq (COMP) fell 35 points, or 1.2% Friday and 5.3% for the week.

Facebook (FB), which priced its initial public offering at $38 a share after the closing bell Thursday, jumped 11% when it started trading mid-morning Friday, but closed just above break even line.

"People are talking about Facebook, but it's really a sideshow," said Win Thin, an emerging market strategist for Brown Brothers Harriman. "If Europe blows up, people will trade on that more than anything else."

The European debt crisis loomed over global markets. Asian stocks sold off sharply, based partly on the slowdown in the Chinese economy. European markets were also under pressure, and borrowing costs for Spanish and Greek debt remain high.

Concerns are mounting about a potential Greek exit from the euro, and the implications that it could have for other fiscally troubled nations such as Spain and Italy. Rating agency Moody's downgraded 16 Spanish banks Thursday, including giants Banco Santander (STD) and BBVA (BBVA), the latest sign of distress in Europe.

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Stocks: Worst week of the year

NEW YORK, NY--(Marketwire -05/18/12)- China's internet stocks have posted mixed results recently as government restrictions, high costs, and a shift to mobile devices have made it difficult for companies to tap into the nation's vast online market. It is estimated that only 37.7 percent of China is online according to the China Internet Network Information Center (CINIC). Five Star Equities examines the outlook for companies in China's Internet Sector and provides equity research on SINA Corporation (SINA) and Renren Inc. (RENN).

Access to the full company reports can be found at:

http://www.FiveStarEquities.com/SINA http://www.FiveStarEquities.com/RENN

China currently has more than 500 million internet users. China's internet growth has lagged in recent years, 55.8 million users were still added in 2011, according to the CINIC. Estimates from eMarketer, a digital-marketing research firm, projects that online advertising revenue is projected to grow from $4.6 billion in 2011 to $9.5 billion in 2014. With tight restrictions from the government and growing competition, internet companies have struggled to turn users into reliable sources of revenue.

"A lot of these problems are coming from the fact that most of these firms are still figuring out what the ultimate business model is going to be," said David Wolf, chief executive of Wolf Group Asia. In regards to slowing internet user growth, he added, "It will be about who has the deeper pockets and who is going to be able to evolve their service to keep users. We are looking at more spending before we see more revenue."

Five Star Equities releases regular market updates on China's Internet Sector so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at http://www.FiveStarEquities.com and get exclusive access to our numerous stock reports and industry newsletters.

SINA Corporation, a leading online media company serving China and the global Chinese communities, earlier this week announced its unaudited financial results for the first quarter ended March 31, 2012. Despite reporting a net loss for the first quarter of 2012 of $13.7 million, compared to a net income of $15 million for first quarter 2011, shares of the company jumped over 11 percent Wednesday.

Renren operates the leading real name social networking internet platform in China. It enables users to connect and communicate with each other, share information and user generated content, play online games, listen to music, shop for deals and enjoy a wide range of other features and services. The company recently reported an operating loss of $20.6 million for first quarter 2012, compared to a loss of $4.7 million in first quarter 2011.

Five Star Equities provides Market Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. Five Star Equities has not been compensated by any of the above-mentioned companies. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at: http://www.FiveStarEquities.com/disclaimer

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Shares of SINA and Renren Spike Despite Reporting Losses

By Corrie Driebusch and Drew FitzGerald

Among the companies with shares expected to actively trade in Wednesdays session are J.C. Penney Co. (JCP), Abercrombie & Fitch Co. (ANF) and General Motors Co. (GM).

J.C. Penney Co. (JCP) swung to a loss in its fiscal first quarter as restructuring expenses and other charges weighed on the retailers bottom-line results and revenue, and margins weakened. Shares fell 15% to $28.20 premarket.

Abercrombie & Fitch Co. (ANF) posted a sharp drop in fiscal first-quarter earnings as the teen-apparel retailers same-store sales declined amid weak European sales. Shares were 5.7% lower at $42.80 in premarket trading as its sales grew slower than expected.

Warren Buffetts Berkshire Hathaway Inc. (BRKA, BRKB) went long on autos, revealing a 10 million-share stake in GM in a securities filing Tuesday. Shares of the auto maker rose 3.7% to $22.21 premarket.

A U.S. Food and Drug Administration advisory panel on Tuesday asked the agency to allow an HIV test kit to be sold in retail stores so consumers dont have to go to a health facility to get tested for the virus. The mouth-swab test, made by OraSure Technologies Inc. (OSUR) is already sold commercially to health-care professionals. If approved by the FDA, test results could be obtained in the home like tests for pregnancy and blood sugar. Shares of OraSure jumped 36% to $12.37 premarket.

GE Capital Corp. will resume dividend payments to its parent, General Electric Co. (GE), after a three-year suspension as it continues to strengthen from the financial crisis. GE Capitals board declared a $475 million quarterly dividend and plans to payout 30% of its total 2012 earnings. The company also plans to pay GE a $4.5 billion special dividend this year. Shares of GE rose 3.2% to $18.99 premarket.

Sina Corp. (SINA) swung to a first-quarter loss as the Chinese Internet company posted significantly higher expenses, though revenue improved and the loss wasnt as heavy as expected. Shares jumped 9.5% to $56.60 premarket.

Target Corp.s (TGT) fiscal first-quarter earnings edged up 1.2%, helped by a stronger-than-expected top line, though costs tied to the retail giants plans for expansion in Canada weighed on results. Shares were up 2.2% to $56.30 in premarket trade as the nations second-largest retailer by sales behind Wal-Mart Stores Inc. (WMT) raised its earnings outlook for the year.

Staples Inc.s (SPLS) fiscal first-quarter earnings fell 5.6% as the office-supply giant grappled with weaknesses in international operations, particularly Europe. Shares slipped 2.4% to $14.39 premarket.

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Stocks to Watch: J.C. Penney, Abercrombie & Fitch, General Motors