Good News In Greece Leads To Rise In Stocks – Acadiana Business Index
Stocks rose today, helped by reports signaling the Greek government was close to agreeing on budget measures. Mark Lasseigne has your stock market report on today's Acadiana Business Index.
- The Dow Jones Industrial Average added 33 points to 12,878.
- In testimony to the Senate Budget Committee, Fed Chairman Ben Bernanke reiterated his worries about the U.S. economy, signaling last week's jobs report had not swayed the central bank from its commitment to keeping interest rates ultralow. Bernanke said that the Fed zero-rate policy was designed to move investors from “very conservative” positions “slightly more into riskier positions that involve investment and lending”.
In corporate news,
- Coca-Cola rose 1% after the soft-drink company reported fourth-quarter earnings and revenue that exceeded estimates.
- Coinstar climbed 18% after the company reported results that were well above expectations and provided a first-quarter revenue outlook that was above current projections
- And, Becton Dickinson dropped 3.8% after the medical-technology company reported quarterly results that were in line with expectations but lowered its 2012 earnings forecast.
- Crude-oil settled at $98.41 a barrel.
- And gold closed at $1,748 an ounce.
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