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Economy

Economic Data (USA)

Thursday, December 15, 2005

All 3 Majors Down Slightly

The Illinois Supreme Court threw out a case against cigarette manufacturer Philip Morris which could have cost the company over $10 billion. The Court rejected the position of the Class which claimed that the company tricked people into thinking that light cigarettes are safer than regular ones. The stock of parent company Altria rose by $2.89 (or 3.9 percent) on the news to close @ $76.62 per share.

Light & sweet crude oil, heating oil and gasoline all got cheaper today with a barrel of the light & sweet stuff closing below the $60 mark. Analysts and investors weren't expecting this, with cold weather in the South, and because the government reported that reserves of natural gas are down.

The Charles Schwab Corporation, the San Francisco-based discount brokerage, announced today that it will no longer be listed on The New York Stock Exchange®; shares of the company will soon be traded exclusively on The NASDAQ Exchange. The company had been listed on both the NYSE and The NASDAQ Stock Exchange for two years.

Today's Numbers:

DJIA: Closed Down @ 10,881.67 (-1.84)

NASDAQ: Closed Down @ 2,260.63 (-1.96)

S&P 500: Closed Down @ 1,270.94 (-1.80)


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