Small Gains In The Stock Market: Acadiana Business Index
- Both the Nasdaq Composite and the S&P 500 were virtually unchanged.
- On the economic front, U.S. factory orders rose for the first time in three months in November on stronger demand for aircraft and other goods.
- Separately, TrimTabs Investment Research forecast that only 38,000 new jobs were added last month, well below the forecast of 155,000 jobs that economists are expecting in Friday's government jobs report.
- Meanwhile, European markets pulled back over liquidity among euro-zone banks. Overnight deposits at the European Central Bank reached an all-time high, suggesting banks remain more willing to park money at the ECB than to lend to other banks.
- Encouraging results from some auto makers. For 2011, Ford sales increased 11% and GM's rose 13%. Ford shares rose 1.5%, to 11.30. GM advanced 0.5%, to 21.15.
- Crude oil again higher with a possible European Union ban on oil from Iran. Light, sweet crude closed at $103.33 a barrel on the New York Mercantile Exchange.
- And gold climbed to $1,613 an ounce.