Greece’s Debt Crisis Impacts Wall Street – Acadiana Business Index
- The Dow Jones Industrial Average dropped 33 points to 12,676.
- The International Monetary Fund trimmed its global growth estimates for the year, warning that the euro-zone debt crisis could shave off world-wide output.
The docket was full of companies reporting their earnings.
- McDonald's earnings rose 11%, beating expectations. Still, shares fell 2.3% after hitting an all-time high last week.
- Travelers lost 3.2% after the insurer reported fourth-quarter earnings that missed forecasts although revenue was well above expectations.
- Kimberly-Clark's earnings fell 19% as higher costs again put a damper on the company's improved sales. Shares fell 1.8%.
- And, Baker Hughes declined 1.5% after the company's earnings fell 6.3%, with higher costs and weakness in pressure pumping.
- Light, sweet crude settled at $98.95 a barrel.
- And Gold closing at $1,665 an ounce.