Another Day Of Positive Gains: Acadiana Business Index
Wall Street extends gains as investors look for signs of improvement in the U.S. economy. Mark Lasseigne has your full market report in today's Acadiana Business Index.
- The Dow Jones Industrial Average gained 131 points to 10,940.
- Economic news helped move stocks. A private survey of the job market showed the economy added 91,000 new jobs in September. On Friday, the Labor Department will report the official monthly payrolls number.
- In other news, Moody's Investors Service slashed Italy's government bond ratings by three notches, expecting that economy to remain weak in the next two to three years.
- Ford Motor is being reviewed for a possible upgrade by Moody's. The review comes after Ford reached a tentative agreement with the United Auto Workers Union. F up 4.7% to $10.56.
- Monsanto posted smaller losses from a year-earlier, as sales in seed business improve. The firm lifted its earnings projection for the current quarter. MOS gaining 6.3% to $52.18.
- Oil prices futures soared more than 5%, lifted by a surprise drop in U.S. inventories. Crude oil closing at $79.38 a barrel.
- And Gold settled at $1,642 an ounce.