Great Day On Wallstreet: Acadiana Business Index
Investors bought the headlines, as a long-awaited agreement by European leaders will boost the region's bailout fund by $1.4 trillion. Mark Lasseigne has your market report on today's Acadiana Business Index.
- The Dow Jones Industrial Average rallied 339 points, to 12,208.
- In economic news, the government's initial report on third-quarter gross domestic product showed that U.S. growth rising at a rate of 2.5% from July through September.
Corporate news was again driven by earnings reports.
- Procter & Gamble reported better results but offered a lower outlook for full-year sales growth. PG up ½ % to $65.26
- Visa reported posted rising expenses and revenue that were just shy of forecasts. But earnings were higher than expected. V up 2 ½ % to $94.40
- Dow Chemical's beat revenue forecasts, driven by pricing and sales gains in all segments and geographic areas. DOW up 8.2% to $29.10
- And Exxon Mobil said its third-quarter earnings surged nearly 41% to $10.3 billion as it continued to benefit from climbing oil prices and stronger refining margins. XOM up 1% to $81.88
- Crude oil settled at $93.96 a barrel.
- And Gold closed higher at $1,748 an ounce.