Triple A Credit Rating In Europe In Jeopardy: Acadiana Business Index
Wall Street advanced, but well off session highs while Standards and Poor's put 15 of the 17 euro-zone members on warning for a possible downgrade. Mark Lasseigne has your market report on today's Acadiana Business Index.
- The Dow Jones Industrial Average added 76 points to 12,098. Broader markets also higher. The Nasdaq Composite gained 27 points while the S&P 500 was up 12.
- The big news came after the market closed. Standards and Poor's put 15 of the 17 euro-zone members on warning for a possible downgrade. The negative ratings watch included top-rated Germany and France.
- In economic news, the Commerce Department said U.S. factory orders fell for a second straight month as manufacturers struggle to build momentum. Separately, the service sector slowed, according to the Institute for Supply Management, the most since the beginning of the year.
In corporate news,
- German software giant, SAP, will buy online software provider SuccessFactors for $3.4 billion. News of the buyout propelled technology stocks higher. Successfactors' (SFSF) shares surged 51%.
- Dollar General rose as sales continue to rise on improved traffic and the deep discounter said it saw indications of strength for the holidays. DG up 1.6%.
- Crude oil closed at $100.99 a barrel,
- Gold settled at $1,734 an ounce.