Stock Market Edges Past 13,000–Acadiana Business Index
Wall Street shakes off negative economic data and turns higher. The Dow Jones Industrial Average added 24 points to 13,005. Mark Lasseigne has your stock market report in today's Acadiana Business Index.
The Commerce Department's latest report on durable goods showed orders in January fell at the fastest pace in three years. And, U.S. home prices fell 3.8% in December, ending 2011 at the lowest level since 2006.
In corporate news, shares of Apollo Group plunged over 16%. The education company said it expects enrollment to be flat or in the low-single digits.
AutoZone tacked on 2.8%. The auto-parts retailer said results boosted by improvement in domestic commercial sales.
Domino's Pizza's earnings topped Wall Street estimates with stronger sales in both its U.S. and international shops. Shares up over 15%.
And, IBM laid off more than 1,000 employees this week, and could let more go, according to Computerworld.
Crude oil settled at $106.55 a barrel.
Gold closed at $1,778 an ounce