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.

Filed Under: ATT, Caterpillar, Unemployment Claims

Categories: Acadiana News