The Dow Gains Over 200 Points: Acadiana Business Index
After a topsy turvy week on Wall Street, Mark Lasseigne fills you in on a good start to this week.
- Wall Street moved higher, looking past economic news and focusing on corporate deal making.
- Dow Jones Industrial Average gained 214 points to 11,483.
- The Federal Reserve Bank of New York reported its regional factory activity contract for a third consecutive month in August.
- Moody's lowered its forecast of the US gross domestic product from 3% down to 2% for the second half of this year.
- Google agreed to acquire Motorola Mobility in a $12.5 billion deal.
- Transocean expanding its business with a $1.4 billion takeover of Norway's Aker Drilling.
- Cargill agreed to a €1.5 billion purchase of Dutch animal-nutrition business The Provimi Group.
- Crude oil followed equities higher, closing at $87.88 a barrel.
- Gold added modest gains settling at $1,758 an ounce.