All 3 Major Indexes Lost Ground Today As Investors Worried About Future Interest Rate Hikes by The Fed
All 3 major indices lost ground today: The Labor Department's Consumer Price Index (CPI) report for April, 2006 indicates that inflation appears to be accelerating at a faster pace than many economists and investors were expecting; this may lead to the Fed opting to raise the benchmark Fed Funds Target rate again at the end of June. 2,085,742,890 shares were traded @ The New York Stock Exchange®.
Shares of aluminum giant and Dow Jones Industrial Average (DJIA) component Alcoa fell by $1.48 to close @ $32.16 for
Shares of global #2 PC maker and DJIA component Hewlett-Packard gained $1.05 to close @ $32.16 on news of a strong profits forecast for Q3.
Shares of DJIA component General Motors fell by $1.07 to close @ $24.46 on news that Chief Accounting Officer Peter Bible will resign, and Controller Paul Schmidt will retire.
Shares of Bank of America fell by $1.08 to close @ $48.56.
Shares of Merrill Lynch fell by $2.21 to close @ $70.49.
Shares of Freeport-McMoRan Copper & Gold fell by $3.69 to close @ $56.94. Freeport-McMoRan owns the global #1 gold mine and the global #2 copper mine, by size.
Shares of Exxon Mobil fell by $1.78 to close @ $60.18.
Shares of XM Satellite Radio fell by $1.01 to close @ $16.62 on news that the company is being sued by music labels over copyright infringement and unauthorized delivery of digital music.
Summary of The New York Markets:
----------------------------------------------------------
DJIA: Closed @ 11,205.61 (-214.28)
NASDAQ: Closed @ 2,195.80 (-33.33)
S&P 500: Closed @ 1,270.32 (-21.76)
----------------------------------------------------------
NYMEX Crude Oil Future is currently @ $68.46/barrel
NY Spot Gold gained $0.30 to close @ $692.10/ounce
Currently, The U.S. Dollar buys 0.7842 Euros
Currently, The Euro buys 1.2752 U.S. Dollars
The U.S. Prime Rate (WSJ Prime Rate) is 8.00%
Shares of aluminum giant and Dow Jones Industrial Average (DJIA) component Alcoa fell by $1.48 to close @ $32.16 for
Shares of global #2 PC maker and DJIA component Hewlett-Packard gained $1.05 to close @ $32.16 on news of a strong profits forecast for Q3.
Shares of DJIA component General Motors fell by $1.07 to close @ $24.46 on news that Chief Accounting Officer Peter Bible will resign, and Controller Paul Schmidt will retire.
Shares of Bank of America fell by $1.08 to close @ $48.56.
Shares of Merrill Lynch fell by $2.21 to close @ $70.49.
Shares of Goldman Sachs fell by $4.49 to close @ $148.21.
Shares of Freeport-McMoRan Copper & Gold fell by $3.69 to close @ $56.94. Freeport-McMoRan owns the global #1 gold mine and the global #2 copper mine, by size.
Shares of Exxon Mobil fell by $1.78 to close @ $60.18.
Shares of XM Satellite Radio fell by $1.01 to close @ $16.62 on news that the company is being sued by music labels over copyright infringement and unauthorized delivery of digital music.
Summary of The New York Markets:
----------------------------------------------------------
DJIA: Closed @ 11,205.61 (-214.28)
NASDAQ: Closed @ 2,195.80 (-33.33)
S&P 500: Closed @ 1,270.32 (-21.76)
----------------------------------------------------------
NYMEX Crude Oil Future is currently @ $68.46/barrel
NY Spot Gold gained $0.30 to close @ $692.10/ounce
Currently, The U.S. Dollar buys 0.7842 Euros
Currently, The Euro buys 1.2752 U.S. Dollars
The U.S. Prime Rate (WSJ Prime Rate) is 8.00%
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posted by Steve Brown | 5/17/2006 08:47:00 PM
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