Gains in overseas markets set a positive tone for Wall Street. Mark Lasseigne has your stock market report on today's Acadiana Business Index.

 

 
 
  • Fitch rating agency said France's triple-A rating isn't expected to be downgraded. The news pushed European markets sharply higher.  US markets followed.
 
  • In addition, hopes for more financial stimulus to support China's slowing economy put a charge into Asian indexes. China's Shanghai Composite surged 2.7%.
 
  • BorgWarner was the strongest performer in the S&P 500, jumping 13% after the auto-part maker's upbeat earnings guidance for 2012
 
  • In a contrast to the positive mood in the broader market, a handful of companies, mostly retailers, issued earnings warnings, sending shares lower. Among them was Tiffany, which slumped 10.5% after the high-end jewelry retailer lowered its outlook for the fiscal year.
 
  • Liz Claiborne plummeted 13% after the apparel and accessories maker said its chief financial officer is leaving the company, and lowered its earnings outlook.
 
  • WebMD Health plunged 28%. The health-information company projected lower revenue for 2012, said discussions over a possible sale of the company had been terminated and its President and Chief Executive had resigned.
 
  • Light, sweet crude closed at $102.24,  lifted by concerns about Iran's nuclear program
 
  • And gold closed at $1,631 an ounce.