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Economy

Economic Data (USA)

Wednesday, May 24, 2006

The 3 Majors Advanced In Response to Strong New Home Sales for April, Cheaper Crude Oil and A Decline In NY Spot Gold

The 3 major indices gained some ground today on strong New Home Sales for April; crude oil for future delivery fell below the $70 mark and New York Spot Gold got $36 cheaper. 2,264,374,230 shares were traded @ The New York Stock Exchange®.


Shares of global #2 passenger jet maker and Dow Jones Industrial Average (DJIA) component Boeing (BA) fell by $2.77 to close @ $82.38.


Shares of DJIA component General Motors (GM) gained $2.03 (8.29%) to close @ $26.51.


Shares of global #1 software maker and DJIA component Microsoft (MSFT) gained $0.71 to close @ $23.50.


IPO News

Today's initial public offering for Vonage Holdings (VG) has the unenviable distinction of being the worst performing IPO in the last 6 months: shares of Vonage lost $2.15 to close @ $14.85. The Vonage IPO raised over $531 million.

The MasterCard IPO is priced @ $39; the stock is expected to perform well. Stay tuned...


Shares of XM Satellite Radio Holdings (XMSR) fell by $1.76 to close @ $13.75.


Summary of The U.S. Markets
:

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DJIA: Closed @ 11,117.32 (+18.97)

NASDAQ: Closed @ 2,169.17 (+10.41)

S&P 500: Closed @ 1,258.57 (+1.99)

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NYMEX Crude Oil Future is currently @ $69.74/barrel

NY Spot Gold fell by $36.00 to close @ $637.40/ounce

Currently, The U.S. Dollar buys 0.7843 Euros

Currently, The Euro buys 1.275 U.S. Dollars

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


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