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Economy

Economic Data (USA)

Wednesday, December 21, 2005

All 3 Majors Up; GM Continues To Lose Value

Trading today continued as usual despite the fact that the NYC transit strike is still on.

Stock in General Motors lost more value today, losing $0.80 (4%) to close @ $19.05 per share.

Both United Parcel Service (UPS) and FedEx did well today, helping The Dow Jones Transportation Average hit an all time high.

In tech news, Seagate Technology is buying #2 hard drive maker Maxtor; stock in Maxtor rose by $2.41 (53%) on the news to close @ $6.93. Stock in hard drive maker Western Digital also rose today as investors speculated on it being bought by Seagate as well. Seagate is the world's #1 computer hard drive maker.

According The Government, U.S. inventories of diesel and heating oil were lower than expected last week. This news sent the price of NYMEX crude oil for February delivery higher.

Today's Numbers:

DJIA: Closed Up @ 10,833.73 (+28.18)

NASDAQ: Closed Up @ 2,231.66 (+9.24)

S&P 500: Closed UP @ 1,262.79 (+3.17)

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NYMEX light, sweet crude oil is currently $58.89/barrel

New York Spot Gold is currently $494.80/ounce


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