Dow Rises On Second Week Of Gains: 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.
- Separately, the Commerce Department said retail sales increase more than expected.
- 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.