Standard & Poor’s Makes Blunder: Acadiana Business Index

Wall Street rises as S&P says France’s credit rating was not changed as the Dow Jones Industrial Average added 113 points. Mark Lasseigne has your market report on today's Acadiana Business Index.

• Standard & Poor's Ratings Services erroneously issued a message saying it had cut France's triple-A credit.  The confusion prompted S&P to issue a statement saying France’s triple-A rating was not changed.

• In economic news, the Labor Department said the number of people filing for unemployment assistance last week dropped.

• Jefferson County, Ala., home of Birmingham, filed the largest municipal bankruptcy in U.S. history, more than $3 billion. 

In corporate news:

• Cisco ran up 7.2% after the networking company reported earnings and revenue that exceeded expectations.
• Green Mountain Coffee Roasters plunged 38%, after missing its own forecasts and Wall Street's targets.
• And, Advance Auto Parts gained 3.5%. The auto parts retailer's profit rose 20%.

• Crude oil closed at $97.78 a barrel.

• And Gold settled at $1,760 an ounce.