Market Wrap: Spanish Yields Jump; Greece Elects; Facebook Gets Recognition; Clemens' Last No Hitter

Market wrap-up for June 18th

End of the Day: Dow Jones down 25.4 to 12,741.82; S&P 500 up 1.9 to 1,344.78; Nasdaq up 22.5 to 2,895.33

The following is a brief summary of events moving markets today:

• Yay, Greece! [2 minutes later] Oh, wait. Spain..: U.S. markets mostly hung out in negative territory as traders pulled the old "buy the rumor, sell the news" illusion. Following seemingly positive results in the Greek election Sunday, which found the pro-bailout party out on top, many were cautious as Greece will still need to form a government. For more on the election, click here.
  
  In addition, Spain's cost to borrow roared higher again as investors are still unsure of the direction its taking for its banking system. Yields on Spanish 10-year government bonds hit a euro-era record at 7.13 percent, eclipsing Greece, Portugal, and Ireland's bond yields. Additional data shows past-due loans held at banks moved to an 18-year high.
  
  
• Facebook turns Face.com into an honest facial recognition suite: In an effort to out-technify Google (Nasdaq: GOOG), Facebook (Nasdaq: FB) bought up facial recognition company Face.com. The deal had been speculated for a while by media outlets, though nothing official was announced until today. Financial terms weren't disclosed, but some sources have pointed to a $100 million price tag.
  
  Face.com will amplify Facebook's photo-sharing feature by making it easier to identify people in photos. So, if you've ever been photo bombed before and that person happens to be on Facebook, revenge is yours! (Note: We're sure Face.com doesn't just identify random people...yet.)
  
  
• Crude slumps on soaring yields: Soured optimism from the Greek elections also hit crude prices today. Traders refocused on Spain, whose economy is the fourth-largest in the euro area, as surging debt yields offered little in the way of comfort. With Spain still grappling with banking issues, it might be a "tip of the iceberg scenario," causing further slowdown to the rest of the 17-member union.
  
  Crude ended the session down just under 1 percent.
  
  
• "Google Exec" may be a loose term: Yahoo! (Nasdaq: YHOO) announced it had tapped a Google (Nasdaq: GOOG) executive as it looks to bolster its core advertising business. The company announced hiring Michael Barrett as executive vice president and revenue chief. Barrett will oversee global ad sales and operations.
  
  Barrett joined Google in 2011 after the search giant acquired AdMeld. He also worked alongside current Yahoo! interim CEO Loss Levinsohn at Fox Interactive Media.
  
  
• The ads didn't work: Speaking of surprising executive moves, J.C. Penney Company, Inc. (NYSE: JCP) said its merchandising chief Michael Francis would be leaving the company. The announcement was met with a short statement by CEO Ron Johnson, wishing Francis the best in the future.
  
  Francis joined J.C. Penney in early October 2011, coming over from Target (NYSE: TGT), where he served as Chief Marketing Officer since 2008.
  
  J.C. Penney ended the session down 2.25 percent, below levels it was at when Francis joined the company. For more on the resignation, click here.
  
  
• Bringing the heat one last time: Former baseball All Star pitcher Roger Clemens was acquitted of all charges in his perjury trial. Clemoes was accused of lying to Congress in 2008, insisting he never used steroids or HGH.
  
  The panel contained eight women and four men. All were said to be "largely uninterested" in baseball. We're sure the selection process took months.

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