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Economy

Economic Data (USA)

Tuesday, February 21, 2006

All 3 Major Indices Declined On Concern That The Fed Will Continue To Raise Interest Rates Into The Summer

All 3 major indexes lost ground today as the latest Leading Economic Indicators report and minutes from the last Federal Open Market Committee (FOMC) meeting had investors worried about future interest rates hikes. Soaring crude oil prices related to unrest in Nigeria also played a roll in the day's decline. An estimated 1.55 billion shares were traded on The Big Board today.

Shares of Baidu.com Inc gained 3.3% to close @ $51.69. After NASDAQ's closing bell, Baidu reported quarterly earnings that beat analyst expectations; the stock may perform well tomorrow as a result. Baidu.com is China's most popular search engine.

Shares of Carnival Corp. fell by $1.72 to close @ $51.83. Carnival is the global #1 cruise line operator.


Today's Numbers:

DJIA: Closed Lower @ 11,069.06 (-46.26)

NASDAQ: Closed Lower @ 2,262.96 (-19.40)

S&P 500: Closed Lower @ 1,283.04 (-4.20)

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NYMEX Crude Oil Future closed Higher @ $62.07/barrel

New York Spot Gold closed Higher @ $553.60/ounce

Currently, The U.S. Dollar buys
0.8418 Euros
Currently, The Euro buys 1.188 U.S. Dollars

The U.S. Prime Rate (WSJ Prime Rate) is 7.5%


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