Dow Snaps Six-Day Losing Streak – Acadiana Business Index

Stocks gained on Monday to snap a six-day losing streak. Ken Meyers has the latest on what's happening on Wall Street in Monday's Acadiana Business Index.

• The Dow climbed 135 points to close at 12504. The S&P 500 added over 20 points to finish at 1315. The NASDAQ gained 68 points to end the session at 2847. Issues on the NYSE were 6-1 positive with composite volume totaling over 3.7 billion shares. Advancers outpaced declining issues on the NASDAQ by a 10-3 margin.
• Today’s gains by the major averages were attributed to China’s Premier pledging to do more to bolster growth. The market also got a lift after French and German finance ministers said they will work to keep Greece in the euro.
• Materials and tech paced today’s advance. Newmont Mining added $1.79 to $47.37 following a positive article in Barron’s over the weekend. Yahoo! rose 14 cents to $15.55 after agreeing to sell its 20% stake back to Alibaba Group. Apple gained $31.07 to $561.22 to offset Facebook’s $4.38 decline to $33.80 on its second day as a public company.
• Industrials rose with Cooper Industries rallying $14.04 to $69.88 after Eaton Corp agreed to buy the company for $11.8 billion.
• Shares of Lowe’s and Campbell Soup retreated following their earnings releases this morning. Lowe’s lost $2.88 to $25.60 after the company lowered its full-year forecast. Campbell Soup fell 65 cents to $32.75 as the soup maker’s quarterly profits declined.
• The 10-year note declined 3/16 to yield 1.74%.

For the complete report, click Ken's Market Report.