Market Begins Week On Negative Note – Acadiana Business Index

Wall Street drops on a disappointing labor picture as the Dow Jones Industrial Average fell 131 points. Mark Lasseigne has the latest on what's happening on Wall Street on Monday's Acadiana Business Index.

The Labor Department reported Friday, that the US economy added 120,000 jobs in March. Meanwhile, the unemployment rate fell to 8.2% from February's 8.3%, beating expectations.

In corporate news,

AOL soared 43% after the company said it agreed to sell more than 800 patents to Microsoft for $1.06 billion. Microsoft retreated 1%.

Avis Budget slipped 3.1%. The car rental company said it was removing about 10,000 Ford Focus sedans from its fleet amid a safety recall. Ford Motor also fell.

Light sweet crude settled at $102.46 a barrel.

And, gold closed at $1,642 an ounce.

Filed Under: Microsoft

Categories: Acadiana News