The Dow Jones Industrial Average fell 20 points while the national unemployment rate remains stuck at 9.1%. Mark Lasseigne has your market report on today's Acadiana Business Index.

 

 
  • Markets faced headwinds after Fitch downgraded its ratings on Italy and Spain, two of Europe’s largest economies.  The company also placed Portugal on watch for possible downgrade.

 

 
  • The U.S. economy added 103,000 jobs in September, more than expected, but the unemployment rate at remains stuck at 9.1%. The gains were aided by the return of 45,000 Verizon workers after a strike.
 
  • And, U.S. consumer credit fell sharply in August, taking the biggest drop in more than a year as Americans were cautious about their finances amid a shaky economic outlook.
 
  • Sprint Nextel spooked investors, saying it needed to raise money to roll out its own nationwide 4G wireless network.  The decision is a shift away from partner Clearwire's technology. S dropped 12% to lead the S&P 500's decliners. CLWR fell 32%.
 
  • And, Research In Motion said it will buy Irish software firm NewBay.  The BlackBerry maker has been fighting to maintain its share of the smartphone market. RIM down 4.3%.
 
  • Oil prices closed at $82.79 a barrel.
 
  • And Gold settled at $1,635 an ounce.