Alcoa Leads The Way On Positive Day – Acadiana Business Index
Earnings season is underway on Wall Street as the Dow Jones Industrial Average added 89 points. Mark Lasseigne has your stock market update on Wednesday's Acadiana Business Index.
- Alcoa kicked off earnings season with its quarterly results yesterday evening. The aluminum company posted better than expected earnings. Alcoa up 6%.
In economic news,
- The cost of goods imported into the U.S. in March posted its largest gain in nearly a year, as petroleum prices jumped.
- And, the U.S. Treasury Department said that, for the first six months of fiscal 2012, the government spent $779 billion more than it collected.
In corporate news,
- Nokia plunged almost 16% after it warned that competition, particularly in India, the Middle East, Africa and China, would hit its first-quarter performance.
- Light sweet crude settled at $102.70 a barrel.
- And, gold closed at $1,659 an ounce.
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