Stocks Rebound From Obamacare Ruling – Acadiana Business Index
- The Dow Jones was up 278 points to 12,880, the S&P 500 added 33 points to 1362, and the NASDAQ rallied 86 points to 2935. On the week, the Dow Jones was higher by 1.9%, the S&P 500 advanced nearly 2%, and the NASDAQ was up 1.5%. Today’s composite volume on the NYSE was 4.5 billion shares with advancing issues besting decliners by a margin of 7-1. The NASDAQ was 6-1 positive on issues.
- Stocks posted impressive gains in today’s session after European leader’s surpassed the lowly expectations for their summit in Brussels. In the two-day meeting, the region’s policymakers laid the groundwork for more direct funding measures to eurozone banks via the EU bailout fund. This unexpected result helped lift all 10 sectors on the S&P into the green.
- Industrial and tech stocks were the top performers with Caterpillar adding $2.28 to $84.91 and Apple finishing higher by $14.95 to $584.00.
- Energy stocks also rallied after crude oil surged ahead by $7.08 to $84.77 per barrel. Exxon advanced $2.47 to $85.57 and ConocoPhillips was up $1.35 to $55.88.
- In other news, Research In Motion fell $1.74 to $7.39 following the blackberry maker’s disappointing result in quarterly earnings.
- Turning to the fixed income markets, Treasuries were lower as investors moved to riskier assets. The benchmark 10-year note was off 11/16 of a point to yield 1.65%.
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