Cease Fire Between Israel And Hamas Leads To Stocks Rising – Acadiana Business Index

U.S. stocks rose as the Egyptian Foreign Minister announced a cease fire between Israel and Hamas. Ken Meyers has your stock market report on the Acadiana Business Index.

• The Dow Jones Industrial Average rose more than 48 points to close at 12,837.  The S&P 500 gained more than three points to close at 1391.  The Nasdaq added nearly ten points to close at 2927.
• In economic news, equities moved higher midday Wednesday as Israel and Palestinian militant group Hamas agreed to call a halt to more than a week of airstrikes and missile attacks after talks brokered by Egypt's Islamic government and the U.S. The accord takes effect at 9:00 p.m. Central.
• In the U.S., economic releases were mixed but generally positive. Fewer Americans filed applications for unemployment benefits last week as damage to the labor market caused by Superstorm Sandy began to subside.
• Best Buy down nearly two and a half percent ahead of Black Friday after Wall Street analysts cut their price targets and lowered their expectations for a buyout plan.
• Light, sweet crude up $.93 Wednesday to close at $87.68 a barrel and Gold closed up nearly $5.00 to $17.28 an ounce.