Contact Us

Rally Falls Short On Wall Street – Acadiana Business Index

Wall Street
(Photo by Spencer Platt/Getty Images)

Wall Street’s attempt to rally fell short on. Ken Meyers has your stock market report on Thursday’s Acadiana Business Index.

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

  • The Dow declined 33 points to end the session at 12598. The S&P 500 lost over 5 points to finish at 1324. The NASDAQ closed 19 points lower at 2874. The NYSE was negative on issues by a 2-1 margin on composite volume totaling over 4.2 billion shares. On the NASDAQ, declining issues outpaced advancers by 2-1.
  • The major averages swung between gains and losses today as investors weighed better-than-expected readings on the U.S. economy against concerns surrounding Europe’s debt crisis.
  • Stocks advanced in early trading after reports showed housing starts unexpectedly rose 2.6% and industrial production increased 1.1% in April.
  • Minutes from last month’s FOMC meeting suggested the Fed would be open to additional stimulus measures if U.S. growth were to lose momentum or risks to its outlook increased.
  • The market retreated in the afternoon amid concerns over Europe’s debt crisis after the region’s central bank said it has no immediate plans to boost stimulus.
  • Financials were the worst performing group on the session. Shares of JP Morgan declined 69 cents to $35.55 and Citigroup fell 81 cents to $26.99. On the earnings front, Target finished up 24 cents to $55.32 after posting earnings ahead of analyst projections and raising its full-year guidance. JC Penney fell $6.57 to $26.75 after announcing a first quarter earnings loss and suspension of its quarterly dividend.
  • In the industrials, Deere declined $2.44 to $74.18 despite reporting an earnings beat and raised its 2012 profit forecast.
  • The 10-year note was up 1/16 to yield 1.76%.

For the complete report, click Ken’s Market Report.

More from KPEL 96.5

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://kpel965.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on KPEL 96.5 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here.

Register on KPEL 96.5 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!