Acadiana Business Index
Mark Lasseigne fills you in on another wild day on Wall Street.
-The Dow Jones Industrial Average rallied 430 points to 11,240.
-The Dow finally rallied in positive territory, but traded violently in 637 point range from low to high during the day.
-The Fed today signaled it plans to keep its benchmark short-term interest rate close to zero for at least another two years, and sharply downgraded its view of the U.S. economy.
-The Energy Information Administration now expects U.S. crude oil to average $96 a barrel in 2011 and $101 a barrel in 2012, according to its monthly Short-Term Energy Outlook report.
-Crude oil prices fell after the Fed statements, closing at $78.49/ barrel.
-And Gold reflected continued extreme investor anxiety.
Gold closing at $1743/ounce.