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Economy

Economic Data (USA)

Tuesday, May 16, 2006

The 3 Majors Indexes Lost Ground As Investors Worried About Signs of Slowing Consumer Spending

The 3 majors indices lost ground today: a government report on Housing Starts showed fewer-than-expected starts last month, which was seen as a possible harbinger of declining consumer spending. 1,686,140,090 shares were traded @ The New York Stock Exchange®.


Shares of home improvement giant and Dow Jones Industrial Average (DJIA) component Home Depot fell by $2.05 (over 5%) to close @ $38.45 on news that first-quarter revenue missed analysts' estimates.


Shares of Apple Computer fell by $2.81 to close @ $64.98 on news that Creative Technology, maker of the Zen digital music player, has filed a lawsuit against Apple with the aim of freezing sales of the immensely popular iPod music player.


Shares of Sepracor gained $6.28 to close @ $51.10 on news that the FDA has postponed the approval of a drug made by Neurocrine and Pfizer that hopes to compete with Sepracor 's LunestaTM sleeping pill.

Shares of Neurocrine fell by $33.87 (62%) to close @ $20.76.


Shares of Deere & Co. gained $1.79 to close @ $89.31 on news of strong Q2 profits. Deere is the global #1 manufacturer of farm machinery.


Shares of Agilent Technologies fell by $3.12 to close @ $34.85 on news of sagging sales. Agilent is the global #1 manufacturer of scientific testing equipment.


Shares of Carnival fell by $3.94 to close @ $42.60. Carnival is the global #1 ocean cruise operator.


Shares of Staples fell by $1.60 to close @ $24.82.


Summary of The New York Markets
:

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

DJIA: Closed @ 11,419.89 (-8.88)

NASDAQ: Closed @ 2,229.13 (-9.39)

S&P 500: Closed @ 1,292.08 (-2.42)

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

NYMEX Crude Oil Future is currently @ $69.58/barrel

NY Spot Gold gained $8.20 to close @ $691.80/ounce

Currently, The U.S. Dollar buys 0.7782 Euros

Currently, The Euro buys 1.285 U.S. Dollars

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


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