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IPO market heats up ahead of Facebook's public debut as stocks gain, economy improves
NEW YORK (AP) ' A better economic outlook and rising stock market are heating up the market for initial public offerings this spring, just weeks before Facebook's anticipated massive IPO.
In the past two days, two companies have notched the biggest first-day gains for a freshly public company since LinkedIn Corp., the professional networking service, had its IPO last May.
Congress, meanwhile, is lessening restrictions on IPOs in an attempt to make it easier for younger companies to raise money. Still, with ongoing worries about high gas prices and unemployment dampening the economy, it's too early to tell whether an IPO recovery is here to stay.