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Economy

Economic Data (USA)

Tuesday, May 02, 2006

The 3 Majors Advanced; Gold Crossed The $660 mark; The Dollar Dipped

The 3 major indexes advanced today as New York Spot Gold hit $664.20 and crude oil for future delivery threatened to reach $75. 1,720,434,230 shares were traded @ The New York Stock Exchange®.


Shares of Dow Jones Industrial Average (DJIA) component General Motors gained $0.57 to close @ $23.21 on news of strong sales of large SUV's in April.


Shares of TXU gained $7.59 to close @ $57.50. TXU is the #1 power producer in Texas by size.


Shares of Archer-Daniels-Midland (ADM) gained $3.90 to close @ a record high $41.90. ADM is prospering as demand for ethanol increases in the face of skyrocketing gas prices. ADM is the U.S. #1 producer of ethanol.


Shares of Apple Computer advanced by $2.02 to close @ $71.62 on news that the company has renewed contracts with big music labels to continue selling songs for $0.99 via iTunes.


Summary of The New York Markets:

----------------------------------------------------------

DJIA: Closed Higher @ 11,416.45 (+73.16)

NASDAQ: Closed Higher @ 2,309.84 (+5.05)

S&P 500: Closed Higher @ 1,313.21 (+8.02)

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NYMEX Crude Oil Future is currently @ $74.95/barrel

NY Spot Gold gained $6.60 to close @ $664.20/ounce

Currently, The U.S. Dollar buys 0.7907 Euros

Currently, The Euro buys 1.2647 U.S. Dollars

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


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