Stocks Up On Mixed Data: Acadiana Business Index
The Dow Jones Industrial Average pushed back into positive territory in the last 30 minutes of trade, to close 28 points higher to 12,980. Mark Lasseigne has your stock market report in today’s Acadiana Business Index.
Economic data today was mixed.
The Labor Department said 351,000 American filed new applications for unemployment benefits last week
A Commerce report showed that personal income and spending were below what economists predicted.
But, Retailers turn in solid sales last month, with most companies beating estimates.
Ford Motor rose 2.2%, and General Motors gained 1.7%, after the U.S. auto industry reported a second-straight month of better sales. Chrysler Group, which is majority-owned by Italy’s Fiat led the way, reporting a 40% increase for February.
Saudi officials have denied a report about a pipeline attack in its oil-rich Eastern Providence.
Crude oil settled at $108.84 a barrel.
Gold closed at $1,721 an ounce.