Another Negative Day: Acadiana Business Index

U.S. economic data painted a mixed picture and showed little reason for optimism. Mark Lasseigne has your market report on today's Acadiana Business Index.

• The Dow Jones Industrial Average dropped 235 points, to 11,259.

• New unemployment benefit claims rose last week, and consumer spending barely increased in October.  Other reports showed new orders for a range of durable manufactured goods rose.

• International stock prices continue their slump, as weak demand in a German bond auction heightened fears the euro zone crisis would worsen.

• Meanwhile, data showed Chinese manufacturing shrank the most in over 2 ½ years in November, intensifying concerns about a global economic slowdown.

• All 10 S&P sectors were negative, with financials among the biggest decliners over concerns about exposure to European debt. Economically sensitive stocks such as energy and commodity-related issues were also lower.

• Crude oil closed lower at $96.15 a barrel.

• And Gold settled at $1,697 an ounce.