![Stocks Finish Higher On Optimism Over ‘Fiscal Cliff’ – Acadiana Business Index](http://townsquare.media/site/36/files/2012/04/Wall-Street-Sign-Michael-Nagle-Getty111.jpg?w=980&q=75)
Stocks Finish Higher On Optimism Over ‘Fiscal Cliff’ – Acadiana Business Index
Stocks recovered from an early decline to finish higher on Friday. Ken Meyers has your market report on Acadiana Business Index.
- The Dow added more than 45 points to close at 12588. United Health gained 65 cents to $51.90 and Alcoa rose 13 cents to $8.18 to pace the advance by blue chip index. The S&P 500 gained 6 points to 1359. The NASDAQ climbed 16 points to 2853.
- The major averages ended the session in positive territory amid optimism surrounding Friday’s initial meeting between President Obama and Congressional leaders to discuss the fiscal cliff.
- The market opened lower following data that showed industrial production unexpectedly fell 0.4% and capacity utilization declined to 77.8% in October.
- Nine of 10 sectors were up on the session. Utilities were the best performing group with Duke Energy up $1.03 to $60.90. Telecom was the worst performing sector. Verizon declined 30 cents to $41.40. On the earnings front, Gap rose 33 cents to $33.59 after posting better-than-expected quarterly results and increased its full year outlook. However, Dell fell 73 cents to $8.83 as the PC maker’s profits fell short of expectations.
- Breadth was positive on issues by 20-7 on the NYSE and by 13-9 on the NASDAQ. NYSE Composite volume totaled more than 3.9 billion shares.
- The 10-year note rose 1/16 to yield 1.58%.
- Despite Friday’s gains, the major averages finished lower on the week. The Dow and NASDAQ both declined 1.8% while the S&P 500 lost 1.5%.
For the complete report, click Ken's Market Report.
More From News Talk 96.5 KPEL
![State Tax Renewal Fails In House By 7 Votes](http://townsquare.media/site/36/files/2016/05/State-Capitol-at-Dusk-Wikimedia-Commons.jpg?w=980&q=75)
![Edwards: End Regular Session Early To Address Fiscal Cliff](http://townsquare.media/site/36/files/2018/04/JBE-State-Capitol.jpeg.jpg?w=980&q=75)
![Gov. Releases Plan For Spending $123 Million In Surplus Funds](http://townsquare.media/site/36/files/2016/10/GettyImages-580034036.jpg?w=980&q=75)
![Gov. Calls For Fewer Partisan Battles In Regular Session](http://townsquare.media/site/36/files/2016/10/GettyImages-580034036.jpg?w=980&q=75)
![Tax Votes Moved To Wednesday After House Gridlock](http://townsquare.media/site/36/files/2016/05/State-Capitol-at-Dusk-Wikimedia-Commons.jpg?w=980&q=75)
![Special Session Thaws; Reforms, Tax Packages To Be Heard Sunday](http://townsquare.media/site/36/files/2011/12/Louisiana_State_Senate-e1462935067674.jpg?w=980&q=75)
![Gov. Edwards Calls Another Special Legislative Session On Finances](http://townsquare.media/site/36/files/2016/02/Louisiana-State-Capitol-wikimedia-commons-e1454730076776.jpg?w=980&q=75)
![Here’s A Look At The Changes Proposed To Louisiana’s TOPS Program](http://townsquare.media/site/36/files/2016/02/TOPS-CUTS.jpg?w=980&q=75)
![Fiscal Cliff Negotiations Set To Resume Between Governor, House Speaker](http://townsquare.media/site/36/files/2016/05/State-Capitol-at-Dusk-Wikimedia-Commons.jpg?w=980&q=75)