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Economy

Economic Data (USA)

Thursday, December 01, 2005

Stocks Enjoyed A Great Day On News That Inflation Is Under Control

With inflation worries waning, investors bought up Blue Chip stocks like McDonald's, 3M and Boeing; reduced fears about interest rate hikes also helped all 3 major indices to close up today.

GM, Ford and Daimler Chrysler all reported slumping sales for November 2005, while Toyota reported an increase. In the current climate of high fuel costs, SUV's are loosing their appeal while Toyota's Prius hybrid vehicle is doing great.

Gold broke the $500 mark today: at the time of this posting, gold is @ $503.50 per ounce (EUR 429.18.)

Today's Numbers:

DJIA: Closed Up @ 10,912.57 (+106.70)

NASDAQ: Closed Up @ 2,267.17 (+34.35)

S&P 500: Closed Up @ 1,264.67 (+15.19)


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