Acadiana Business Index
Mark Lasseigne fills you in on a great day on Wall Street, as the stock market continues to go back-and-forth this week.
-The Dow Jones Industrial Average turned directions again, rallying 423 points to 11,143 as investors seized on a handful of corporate and economic reports.
-Weekly unemployment claims fell slightly, with 395,000 Americans filing for first time jobless benefits, according to the US Labor Department.
-And, the US Commerce Department reported a surprise widening in the trade deficit to its highest level in over two and a half years.
-Cisco Systems helped set the positive tone for the markets, surging 16% after posting better-than-expected revenues.
-The USDA slashed its outlook for the autumn harvests after damaging heat and dryness took its toll on corn and soybean fields in July, while excessive rains hampered spring wheat plantings. Grain futures surged on the report.
-Crude oil rose to $83.17 a barrel.
-Gold fell to $1,751 an ounce, but losses were limited as traders kept a weary eye on Europe's sovereign debt problems.