Wall Street Ends Week With Wimper:Acadiana Business Index
Fitch Ratings downgraded the long-term issuer default and viability ratings of several major global banks including Bank of America, Barclays and Goldman Sachs. The ratings agency also lowered its outlook on France to negative, and placed its ratings on six other euro-zone nations, including Spain and Italy, on watch for downgrade.
In corporate news,
United Rentals agrees to buy RSC Holdings in a deal valued at $1.87 billion. The acquisition will expand the equipment rental company's presence in North America and accelerate growth with industrial customers. RSC shares surged 58%.
The crisis at Blackberry maker Research In Motion shows no sign of lifting. The company says a long awaited product revamp would be delayed until late 2012. Shares fell 11.2%.
And, Cameron International will pay BP $250 million to settle all claims relating to the 2010 Deepwater Horizon accident in the Gulf of Mexico. The news was BP's latest legal settlement following the 2010 disaster.
Light, sweet crude closed at $93.53 a barrel on the New York Mercantile Exchange.
And gold settled at $1,598 an ounce.