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.