![Home Sales Fall Unexpectedly – Acadiana Business Index](http://townsquare.media/site/36/files/2012/01/Wall-Street-2-Spencer-Platt-Getty12.jpg?w=980&q=75)
Home Sales Fall Unexpectedly – Acadiana Business Index
Wall Street declines slightly, as home sales disappoint the market. Mark Lasseigne has your stock market report on today's Acadiana Business Index.
- The Dow Jones Industrial Average lost 22 points to 12,735.
- Sales of new homes unexpectedly fell 2.2% in December; economists had anticipated an increase.
- In addition, the Conference Board's leading economic index rose only 0.4% in December, below estimates.
- Unemployment claims increased by 21,000 to 377,000 last week. The previous week's figures were also revised up.
- Losses in the Dow were limited by earnings from Caterpillar, which surged 60% as the heavy-machinery maker reported higher equipment sales. Shares climbed 2.3% and supported the blue chips.
- 3M's earnings rose as the company saw strong growth in its industrial and transportation segment. Shares rose 1.1%.
- Meanwhile, AT&T swung to a loss. Shares fell 2.5% and were the Dow's worst performers.
- Light, sweet crude settled at $99.70 a barrel.
- And Gold closing at $1,727 an ounce.
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