Acadiana Business Index
Mark Lasseigne fills you in on Wall Street's worst week this year.
-The S&P 500 lost 4% this week, and that move is primarily attributable to growing concerns
about lawmakers ability to come to an agreement on the U.S. debt ceiling, and the subsequent downgrade of U.S. credit by one of the ratings agencies, which could materialize even if a debt agreement is reached.
-GDP increased at a 1.3 percent annual pace in the second quarter as consumer spending barely rose, the Commerce Department said on Friday. In the first three months of the year, the economy advanced just 0.4
percent, a sharp downward revision from the previously reported 1.9 percent gain.
percent, a sharp downward revision from the previously reported 1.9 percent gain.
-Crude-oil settled at $95.70/ barrel.
-Gold closed at $1,635/ounce.
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