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Economy

Economic Data (USA)

Monday, May 01, 2006

The 3 Major Indexes Retreated Today On Interest Rate Concerns

The 3 major indices lost ground today as comments made by Fed Chairman Ben Bernanke caused investors to rethink the future of interest rates; today's government reports on Consumer Spending and Construction Spending fueled interest rate concerns. 1,730,736,040 shares were traded @ The New York Stock Exchange® today.

Shares of Google fell by $19.04 to close @ $398.90 on news that Amazon.com has switched from Google to Microsoft for Internet search services.

Shares of Dow Jones Industrial Average (DJIA) component Wal-Mart gained $0.90 to close @ $45.93 on news of strong same-store sales in April.


Summary of The New York Markets:

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DJIA: Closed Lower @ 11,343.29 (-23.85)

NASDAQ: Closed Lower @ 2,304.79 (-17.78)

S&P 500: Closed Lower @ 1,305.19 (-5.42)

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NYMEX Crude Oil Future is currently @ $73.71/barrel

NY Spot Gold gained $6.00 to close @ $657.60/ounce

Currently, The U.S. Dollar buys 0.7959 Euros

Currently, The Euro buys 1.2564 U.S. Dollars

The U.S. Prime Rate (Fed Prime Rate) is 7.75%


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