Stocks sank before the markets closed on worries about Thursday's auction over Italian bonds and weak U.S. data. Rhonda Bordelon has your stock market report on the Acadiana Business Index.

  • Stocks extended their losses into the closing bell. The Dow Jones fell 77 points to 12,496, the S&P 500 gave up 9 points to 1315, and the NASDAQ ended lower by 24 points to close at 2819. Composite volume on the NYSE was 3.3 billion shares with declining issues besting advancers by a margin of 2-1. The NASDAQ was 7-3 negative on issues. Stocks struggled to gain momentum after U.S. economic data provided a mixed picture and European uncertainties continued to weigh on investors.
  • All 10 sectors on the S&P ended in the red, led by sharp declines in the industrial and material sectors. Shares of U.S. steel fell 36 cents to $18.03 and United Technologies gave up 81 cents to $73.54. Energy stocks were also under pressure as crude oil slid 95 cents to $82.37 per barrel. Exxon ended in the red by 63 cents to $80.63 and Transocean was off 80 cents to $41.87.
  • In other news, JP Morgan gained 53 cents to $34.30 following CEO Jamie Dimon’s testimony to the Senate Banking Committee. On the M&A front, Johnson & Johnson gained $1.37 to $64.45 after the company announced that it had received regulatory clearance to move forward with its $19 billion acquisition of Synthes.
  • In bondland, Treasuries were higher along the curve. The 10-year note was up 17 ticks to yield 1.60% and the 30-year bond gained over a point to yield 2.71%.
  • Retail sales go into reverse, falling 0.2% in May and 0.2% in April
  • Target Corporation increased its regular quarterly dividend by 20%
  • Crude oil futures settle at $82.62
  • Dell shares rise 2.5% following first ever dividend