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Economy

Economic Data (USA)

Tuesday, January 31, 2006

All 3 Major Indices Down Today As The Fed Raises The Fed Funds Rate

All 3 major indices retreated today as The Federal Open Market Committee (FOMC) raised The Fed Funds Rate by 25 basis points: borrowing just got a bit more expensive in The United States. An estimated 1.98 billion shares were traded on The Big Board today.

The best performer on The Dow Jones Industrial Average (DJIA) today was Alcoa; shares of Alcoa gained $0.97 (3.2%) to close @ $31.50. Alcoa is the global #1 aluminum producer.

The worst performer on The DJIA today was Altria; shares of Altria fell by $1.57 (2.1%) to close @ $72.34. Altria is a conglomerate of companies and is the global #1 cigarette producer.

Disappointing Q4 2005 earnings caused shares of Google to lose $51.56 (11.92%) in after-hours trading this evening and end up @ $381.10. Shares of Google had gained $5.04 in regular trading earlier today.

Shares of Archer-Daniels-Midland (ADM) gained $2.76 (9.6%) in regular trading today to close @ $31.50; the stock gained an additional $0.18 in after-hours trading this evening. ADM is the global #1 grain processing company.

Shares of Wyeth fell by $0.68 to close @ $46.25. Wyeth makes the Prevnar® meningitis vaccine and the Enbrel® arthritis drug.

Crude oil for future delivery got cheaper today and continues to get cheaper as the evening progresses; Energy stocks declined in response.

Shares of Exxon-Mobil fell by $0.36 to close @ $62.75.

Shares of Sunoco lost $1.01 (1.05%) to close @ $95.20 in regular trading; the stock lost an additional $0.21 in after-hours action.

Shares of Valero Energy lost $0.77 (1.22%) to close @ $62.43 in regular trading; the stock lost an additional $0.44 in after-hours trading.

Shares of ConocoPhillips fell by $0.55 to close @ $64.70 in regular trading; the stock lost an additional $0.30 in after-hours trading.


Shares of Cisco Systems fell by $0.32 to close @ $18.57 in regular trading; the stock lost an additional $0.12 in after-hours action.

Shares of Goodyear Tire & Rubber fell by $3.12 (16.63%) to close @ $15.64 in regular trading; the stock recovered $0.06 in after-hours trading. Goodyear is the U.S. #1 tire manufacturer.


Today's Numbers:

DJIA: Closed Down @ 10,864.86 (-35.06)

NASDAQ: Closed Down @ 2,305.82 (-0.96)

S&P 500: Closed Down @ 1,280.08 (-5.12)

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NYMEX Crude Oil Future is currently @ $67.52/barrel

New York Spot Gold closed Up @ $570.70/ounce

Currently, The U.S. Dollar buys
0.8227 Euros
Currently, The Euro buys 1.2156 U.S. Dollars

The U.S. Prime Rate rose today, and is now 7.5%


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