Dow Falls As Unemployment Claims Are Released: Acadiana Business Index

The Dow falls over a hundred points as investors reacted to sluggish economic data. Mark Lasseigne fills you in.

• Dow Jones Industrial Average fell 124 points to 11,489.
• In its annual mid-year review, the White House downgraded its outlook
  for the economy, saying unemployment could average 9% in 2012 and
  predicting slower-than-expected growth for several years.
• New filings for unemployment claims remain above the 400,000 level.
  The Labor Department said Americans filed 409,000 new claims last week.
• Manufacturing remained flat, according to data from the Institute
  for Supply Management, whose purchasing managers' index came in at
  50.6  Any reading below 50 would indicate a contracting manufacturing
  sector.
• General Motors' U.S. auto sales jump 18% in August, and Chrysler's was
  up 31%, as the reports showed demand for cars, crossovers and trucks.
• Crude closed at $88.93 a barrel.
• And gold settled at $1,829/ounce.
• Investors will now turn their focus to the government's jobs report,
  due Friday morning.