All 3 Major Indices Down As Treasury Bond Yields & Slowing Home Sales Worry Investors

Yup: Looks like The Dow won't make it back to 11K this year. Tomorrow is the last trading day of 2005; it's a Friday, and many investors have been on vacation since Xmas, so a year-end rally is pretty much out of the question.

The inverted yield curve menace once again reared it's ugly head today as the yield on the 10-year U.S. Treasury Note (@ 4.36%) was lower than the yield on the 2-year note (currently @ 4.37%.) Slowing sales of previously owned homes also contributed to the drag on the day's numbers.

The cost of crude surpassed the $60 mark today on news that U.S. inventories of gasoline may not be strong enough to support the current and near-future demand.

Advanced Micro Devices (AMD) fell by $1.17 (3.7%) to close @ $30.53 per share.

Gold continues to shine, closing above the $515 mark today.

Today's Numbers:

DJIA: Closed Down @ 10,784.82 (-11.44)

NASDAQ: Closed Down @ 2,218.16 (-10.78)

S&P 500: Closed Down @ 1,254.42 (-3.75)

----------------------------------------------------------

NYMEX Crude Oil Future is currently $60.32/barrel

New York Spot Gold closed @ $515.40/ounce

--> www.FedPrimeRate.com Privacy Policy <-- >  SITEMAP  <