Dow Falls On Lack Of Stimulus Package – Acadiana Business Index
Wall Street falls after investors question whether the rally can continue without another stimulus package. Mark Lasseigne fills you in on what happened in the stock market on Tuesday's Acadiana Business Index.
- The Dow Jones Industrial Average fell 65 points to 13,199.
- Minutes from the March 13 Federal Reserve meeting showed officials agree the U.S. economic improved moderately, but remain cautious about the jobs market. But the Fed offered no indication of additional financial twisting to stoke the economy.
- U.S. auto sales continue their surge in March, providing a bright spot despite high gasoline prices and ongoing woes in housing and employment. Chrysler sales jump 34%, while GM up 12% and Ford rises 5%.
- The American Petroleum Institute said oil inventories last week surged 7.8 million barrels. However, gasoline stocks fell 4.5 million barrels.
- Light sweet crude settled at $104.01 a barrel.
- While gold closed at $1,672 an ounce.