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Economy

Economic Data (USA)

Wednesday, November 23, 2005

Good News All Around: Oil Is Down While The DJIA Reaches 10,916.09

Banking-related stocks did well today on news that The Federal Reserve will most likely be ending it's interest rate hiking spree soon, while the cost of the light & sweet stuff for January 2006 delivery fell to $56.23 per barrel. The lower cost of energy should translate to better-than-expected holiday spending, so if oil continues to drop, retail stocks should continue to do well.

Today's Numbers:

Dow Jones Industrial Average: Closed Up @ 10,916.09

NASDAQ: Closed Up @ 2,259.98

S&P 500: Closed Up @ 1,265.61

Happy Thanksgiving to all!


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