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Economic Data (USA)

Friday, May 12, 2006

The 3 Major Indices Retreated Today on Fears of Inflation and Future Interest Rate Hikes

All 3 major indexes lost ground today as investors worried about inflation and the potential for future interest rate hikes by the Fed: today's Labor Department report showed that the cost of imports rose at a faster-than-expected pace in April. 1,850,721,870 shares were traded @ The New York Stock Exchange®.

For the week, the Dow Jones Industrial Average (DJIA) fell by 1.7%, the NASDAQ Composite Index fell by 4.2%, and the S&P 500 fell by 2.6%.

Shares of aluminum giant and DJIA component Alcoa fell by $1.21 to close @ $34.81.

Shares of oil giant and DJIA component Exxon Mobil lost $1.22 to close @ $62.24.

Shares of Freeport-McMoRan Copper & Gold lost $2.80 to close @ $65.42.

Shares of the biotech company Threshold Pharmaceuticals fell by $10.56 to close @ $3.44 on news that an experimental prostate drug performed poorly in a trial.

Shares of Barr Pharmaceuticals fell by $2.66 to close @ $50.98 on news that the company wasn't able to secure a new U.S. patent for the Seasonale birth control pill, which may translate to competition from generics later this year.

Shares of Nvidia lost $2.14 to close @ $26.33.

Shares of Expedia fell by $5.15 to close @ $14.51 on news of slumping U.S. sales and sagging revenue.

Shares of stainless steal maker Allegheny Technologies lost $6.08 to close @ $78.45

Shares of U.S. Steel fell by $3.39 to close @ $70.33.

Summary of The New York Markets


DJIA: Closed @ 11,380.99 (-119.74)

NASDAQ: Closed @ 2,243.78 (-28.92)

S&P 500: Closed @ 1,291.24 (-14.68)


NYMEX Crude Oil Future closed @ $71.93/barrel

NY Spot Gold fell by $9.60 to close @ $710.50/ounce

Currently, The U.S. Dollar buys 0.7736 Euros

Currently, The Euro buys 1.2926 U.S. Dollars

The U.S. Prime Rate (Fed Prime Rate) is 8.00%

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