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Economy

Economic Data (USA)

Monday, March 06, 2006

All 3 Majors Indices Closed Lower Today Despite Falling Oil Prices

All 3 major indices retreated today even with a decline in crude oil prices. An estimated 1.65 billion shares were traded on The Big Board today.


AT&T will purchase BellSouth in a deal worth about $67 billion. AT&T will take possession of Cingular Wireless as a result of this deal; Cingular is the U.S. #1 cell phone company.

Shares of AT&T fell by $0.97 to close @ $27.02, which was the worst performing stock in the Dow Jones Industrial Average (DJIA) today.

Shares of BellSouth gained $3.04 to close @ $34.50.


Shares of Research In Motion gained $10.84 to close @ $82.76.


Shares of Public Storage Inc. added $1.10 to close @ $79.46 on news that the company is in talks to purchase its #1 competitor Shurgard Storage Centers Inc. Public Storage is the U.S. #1 self- storage company.


Shares of Education Management gained $4.66 to close @ $41.64.


Shares of TXU Corp. fell by $2.26 to close @ $50.67; TXU is the #1 power company in the state of Texas.


Today's Numbers:

DJIA: Closed Lower @ 10,958.59 (-63.00)

NASDAQ: Closed Lower @ 2,286.03 (-16.57)

S&P 500: Closed Lower @ 1,278.26 (-8.97)

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NYMEX Crude Oil is currently @ $62.41/barrel

New York Spot Gold closed Lower @ $555.20/ounce

Currently, The U.S. Dollar buys 0.8334 Euros

Currently, The Euro buys 1.1999 U.S. Dollars

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


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