Dow Ends Positive Amid Europe’s Financial Conditions: Acadiana Business Index
Renewed worries about financial conditions in Europe dominated headlines again, however the market was able to shake off most of the sour news. Mark Lasseigne has your market report on today's Acadiana Business Index.
- The Dow Jones Industrial Average added 17 points, to 12,096.
In corporate news:
- Wal-Mart dropped 2.4% to 57.45 after narrowly missing profit expectations, even though sales rose more-than-expected.
- Home Depot fell $0.18 to 38.07, even though the company beat earnings estimates and raised its outlook.
- Staples fell 3.6% to 14.81 after reporting lower sales due to weak demand in Europe, and slashed its profit forecast for the year.
- And Chevron and Transocean declined following rumors speculating that a recent spill by the two firms off the Brazil coast may be larger than originally expected. However, both companies denied the rumors, saying that the well was no longer leaking.
- Crude oil closed at $99.37 a barrel.
- And Gold settled at $1,782 an ounce.