Wall Street declines slightly, as home sales disappoint the market. Mark Lasseigne has your stock market report on today's Acadiana Business Index.
- Sales of new homes unexpectedly fell 2.2% in December; economists had anticipated an increase.
- Unemployment claims increased by 21,000 to 377,000 last week. The previous week's figures were also revised up.
- Losses in the Dow were limited by earnings from Caterpillar, which surged 60% as the heavy-machinery maker reported higher equipment sales. Shares climbed 2.3% and supported the blue chips.
- 3M's earnings rose as the company saw strong growth in its industrial and transportation segment. Shares rose 1.1%.
- Meanwhile, AT&T swung to a loss. Shares fell 2.5% and were the Dow's worst performers.
- Light, sweet crude settled at $99.70 a barrel.
- And Gold closing at $1,727 an ounce.