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Economic Data (USA)

Friday, January 20, 2006

The DJIA Lost 213.32 Points Today; All 3 Majors Are Down for The Day & Down for The Week

Stocks on the New York exchanges appear to be correcting as earnings @ many companies have been falling short of analysts' estimates. The Dow Jones Industrial Average (DJIA) fell by 213.32 points today, basically nullifying the gains made so far in 2006. An estimates 2.13 billion shares were traded on The Big Board.

For the week, The DJIA lost 2.7%, The NASDAQ lost 3% and The S + P 500 Index lost 2%.

The worst performance on the DJIA today came from Citigroup which lost $2.25 to close @ $45.69 per share. Earnings fell short of analyst expectations.

General Electric, which is no longer in the insurance business, lost $1.31 to close @ $33.37.

Shares of Google lost $36.99 to close @ $399.46 per share. There is continued concern about the company's refusal to submit search and domain name data to the Justice Department.

Motorola fell by $1.87 to close @ $22.48 per share.

The Ford Motor Company may eliminate 25,000 jobs over the next 4 years; shares of Ford fell by $0.32 to close @ $7.90 per share.

There's a rumor that Morgan Stanley may spend around $8 billion to obtain a controlling interest in the money managing firm BlackRock, Inc. Shares of BlackRock gained $7.65 to close @ $127.00 per share.

PNC Financial Group is the majority owner of BlackRock; shares of PNC Financial Group gained $2.33 to close @ $66.00 per share.

Shares of Xilinx fell by $2.40 to close @ $27.39 per share. Xilinx is the global #1 producer of programmable computer chips.

Shares of Schlumberger Ltd. added $7.38 to close @ $122.25 per share (Schlumberger is the world's #1 provider of oilfield services.)

Shares of car seat maker Johnson Controls fell by $5.67 to close @ $67.88 per share.

Problems in Nigeria and continued nervousness about Iran has resulted in crude oil for February delivery reaching $68.48 per barrel today.

More earnings reports are due out next week, including reports from DJIA components McDonald's, Johnson & Johnson and American Express.

Today's Numbers:

DJIA: Closed Down @ 10,667.39 (-213.32)

NASDAQ: Closed Down @ 2,247.70 (-54.11)

S&P 500: Closed Down @ 1,261.49 (-23.55)


NYMEX Crude Oil Future closed @ $68.48/barrel

New York Spot Gold closed down @ $553.60/ounce

Currently, The U.S. Dollar buys
0.8241 Euros
Currently, The Euro buys 1.2134 U.S. Dollars

The Current Prime Rate is 7.25%

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