Amazon.com Sales Soaring: Acadiana Business Index
- The Dow Jones Industrial Average gained 62 points to 12,170.
- Helping stocks, was the Conference Board's index of leading economic indicators showing the seventh-straight monthly advance for November. The market focused on this headline and ignored other data showing the U.S. economy was weaker in the third quarter than earlier thought. GDP is now forecasted at 1.8%, below economists' earlier downward revision of 2%.
One bright note this holiday season has been online sales.
- Among the standouts, Amazon.com sales have risen 53% while eBay sales were up 21%.
- Akamai Technologies was the strongest stock in the S&P 500, gaining 18%. The company agreed to acquire Cotendo, a maker of mobile acceleration software, for $268 million.
- Mead Johnson was one of the S&P 500's weakest stocks, falling 10%, after Wal-Mart Stores pulled a batch of the company's baby formula from stores.
- Light, sweet crude closed at $99.53 a barrel on the New York Mercantile Exchange.
- And gold settled at $1,609 an ounce.