Dow Ends Positive: Acadiana Business Index
Stocks clawed back most of their morning losses, ahead of two major meetings in Europe this week, as the Dow Jones Industrial Average added 46 points. Mark Lasseigne has your market report in today's Acadiana Business Index.
- Standard & Poor's put the European Union's long-term triple-A rating on negative watch. S&P also issued a warning on a number of European banks. Stocks initially sold off on the move, though the decline was short-lived.
- A new update from the Department of Agriculture. More Americans are receiving Food Stamps from Uncle Sam, now at an all-time high, of 46.3 million people.
Among stocks in focus,
- Women's retailer Talbots surged 70% after the company said a private-equity firm offered to buy the company for $212 million.
- Citigroup fell 0.25%. The bank is cutting 4,500 jobs and will take a $400 million charge related to the action.
- And, Monsanto dropped 0.6%, although it increased its earnings projections and reaffirmed its full-year growth forecast.
- Crude oil closed higher at $100.49 a barrel.
- Gold settled at $1,745 an ounce.