Eased Concerns Over Spain’s Rising Borrowing Costs Leads To Positive Day – Acadiana Business Index
Stocks rallied as worries eased about Spain's rising borrowing costs as the Dow Jones Industrial Average climbed 194 points. Mark Lasseigne has your stock market report on Tuesday's Acadiana Business Index.
- In the U.S., data showed home construction fell for a second straight month in March, while the number of new-housing permits rose. Separately, industrial production was flat for the second straight month in March while capacity utilization slipped from February.
- Coca-Cola Co. rose 2.1%, reaching a nearly 14-year high, after reporting earnings and revenue that exceeded expectations.
- Johnson & Johnson rose 0.3% with earnings that beat forecasts.
- Goldman Sachs fell 0.7% after its results revealed the toll choppy markets have taken on the firm's operations.
- And, Cheniere Energy gained 3.6% after receiving federal approval to construct a major natural gas export facility in Louisiana.
- Light sweet crude settled at $104.20 a barrel.
- And, gold closed at $1,651 an ounce.