The 3 Majors Declined Today As Investors Reacted to The Fed's Monetary Policy Statement & Crude Oil Soared Passed The $66 Mark

The 3 major indexes retreated as investors understood today's FOMC statement about monetary policy to mean that The Fed may raise the benchmark Federal Funds Target Rate beyond 5% later this year. The price on crude oil for future delivery soared beyond the $66 mark, which contributed to today's bearishness. 1,556,432,690 shares were traded @ The New York Stock Exchange® today.


The worst performer in The Dow Jones Industrial Average (DJIA) today was Hewlett-Packard; shares of HP fell by $1.04 (3.14%) to close @ $32.07 . Hewlett-Packard is the global #2 PC manufacturer.

Shares of DJIA component JP Morgan Chase fell by $0.55 (1.31%) to close @ $41.56. JP Morgan Chase is the U.S. #3 bank by size.

Shares of DJIA component Pfizer fell by $0.46 (1.78%) to close @ $25.35. Pfizer is the global #1 pharmaceutical company.

Shares of Eli Lilly fell by $2.29 (3.9%) to close @ $56.38. Eli Lilly is the U.S. #7 pharmaceutical company by size.


Shares of Monsanto gained $2.89 (3.59%) to $83.45. Monsanto is the global #1 maker of genetically modified crops.


Summary of The New York Markets:

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DJIA: Closed Lower @ 11,154.54 (-95.57)

NASDAQ: Closed Lower @ 2,304.46 (-11.12)

S&P 500: Closed Lower @ 1,293.23 (-8.38)

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NYMEX Crude Oil Future is currently @ $65.82/barrel

New York Spot Gold closed Lower @ $566.60/ounce

Currently, The U.S. Dollar buys 0.8325 Euros

Currently, The Euro buys 1.2012 U.S. Dollars

The U.S. Prime Rate is 7.75%

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