Europe Again The Focus As Wall Street Finishes In The Positive: Acadiana Business Index
- The Dow Jones Industrial Average rose 101 points, to 12,170.
- Investors viewed the planned resignation of Italian Prime Minister Silvio Berlusconi as a step toward resolving the country's part in Europe's debt crisis. Berlusconi agreed to step down once the country's 2012 budget vote is approved. Italy is the eurozone's third-largest economy, with debts of around $2.6 trillion.
In corporate news:
- Priceline.com advanced 8.6% after the online travel company's third-quarter earnings more than doubled, offsetting a disappointing outlook for next quarter.
- Toll Brothers rose 7.5%. The high-end homebuilder said fourth-quarter revenue would exceeded expectations.
- Dynegy leapt 27%. The Houston based power company said that it reached an agreement with some bondholders to restructure $1.4 billion of debt held by subsidiaries that filed for bankruptcy on Monday.
- And, McCormick & Schmick's Seafood Restaurants shot up 27% after the company agreed to be acquired by Landry's in a $131 million deal.
- Crude oil rose for the fifth straight day, closing at $96.80 a barrel on the New York Mercantile Exchange.
- And Gold closed higher to $1,798 an ounce.