Mark Lasseigne

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.

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