Dow Hits Four Year High – Acadiana Business Index
A great day for the Dow Jones Industrial Average. Mark Lasseigne tells you about it on today's Acadiana Business Index.
- The Dow Jones Industrial Average ended with its highest close in almost four years, up 123 points to 12,904.
- The Labor Department says weekly unemployment came in at 348,000. Economist had expected the number to be worse.
- Moody's placed the ratings of 114 financial institutions in Europe on review for
downgrade. - The U.S. Treasury warned Congress the U.S. financial system faces a 'material adverse impact' from a deteriorating euro zone crisis.
In corporate news,
$7.6 billion for 2011.
ConocoPhillips said its selling its Vietnam operation to a unit of French oil and natural gas company Perenco for roughly $1.3 billion.
- And, Apache's earnings and revenue soared above estimates as the company benefited from increased output and strong oil prices.
- Crude-oil closed at a seven week high at $102.31 a barrel.
- Gold closed at $1,728 an ounce.
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