Wall Street logs a second week of gains as the Dow Jones Industrial Average rose 166 points. Mark Lasseigne fills you in on today's Acadiana Business Index.

 
  • The market was helped on news from Google, which posted a 26% rise in third-quarter profit from a year earlier.  The results were fueled by record spending in online advertising. GOOG up 5.8% to $591.70.
 
  • The Labor Department said the price of goods imported to the U.S. increased, the biggest rise since April, due to higher petroleum and food cost. 

 

 
  • European markets moved higher, with hopes that the International Monetary Fund's will lend even more money to help with Europe’s debt crisis.
 
  • Fitch Ratings downgraded Swiss financial giant UBS.  Fitch also said it will decide soon on several other possible downgrades, including Barclays, Credit Suisse, Goldman Sachs and Morgan Stanley.

 

  • And Standard & Poor's downgraded Spain, citing increasingly unpredictable financing conditions.
 
  • Crude oil rose over 3% to closed at $86.89 a barrel.
 
  • And Gold settled at $1,683 an ounce.