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Economy

Economic Data (USA)

Tuesday, December 20, 2005

Transit Strike Had No Real Impact On Trading; All 3 Majors Down Today Regardless

Toyota and Honda are predicting a 10% increase in U.S. sales next year; the news from the Japanese auto makers contributed to GM stock losing $1.20, or 5.7%, and closing @ $19.85 per share. GM stock hasn't been priced this low since 1982. Yikes. Kirk Kerkorian sold off 12 million shares of GM for around $251 million.

Continued fears about future interest rate hikes also contributed to today's dismal numbers.

Strong fourth quarter earnings (close to $7 billion) were responsible for stock in Morgan Stanley to increase by $1.04 and close @ $57.71 per share.

Looks like we may have to wait until 2006 before The Dow climbs above the 11K mark again.

Today's Numbers:

DJIA: Closed Down @ 10,805.55 (-30.98)

NASDAQ: Closed Down @ 2,222.42 (-0.32)

S&P 500: Closed Down @ 1,259.62 (-0.30)

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Light, sweet Crude Oil Future is Currently $58.09/barrel
New York Spot Gold is Currently $490.00/ounce


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