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Economy

Economic Data (USA)

Wednesday, May 03, 2006

The 3 Majors Lost Ground; Gold Climbed Higher; Crude Oil Got Cheaper

The 3 major indexes retreated today as investors worried that higher-than-expected Factory Orders may give The Fed impetus to raise interest rates beyond current predictions in order to keep inflation under control. 1,735,485,280 shares were traded @ The New York Stock Exchange®.


Shares of Dow Jones Industrial Average (DJIA) component Procter and Gamble lost $1.89 to close @ $56.22.


Shares of Bausch & Lomb fell by $4.78 to close @ $43.97 on news that other versions of the company's ReNu brand of contact lens cleaners have been associated with an eye infection that can cause blindness.


Shares of Adobe Systems fell by $3.29 to close @ $35.06. Adobe is the global #1 graphic design software maker.


Shares of WellPoint Incorporated fell by $4.50 to close @ $67.55. WellPoint is the U.S. #1 health insurance provider.

Shares of Cigna fell by $15.50 to close @ $90.00.


Summary of The New York Markets:

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DJIA: Closed Lower @ 11,400.28 (-16.17)

NASDAQ: Closed Lower @ 2,303.97 (-5.87 )

S&P 500: Closed Lower @ 1,307.85 (-5.36)

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NYMEX Crude Oil Future is currently @ $72.08/barrel

NY Spot Gold gained $1.80 to close @ $666.00/ounce

Currently, The U.S. Dollar buys 0.7915 Euros

Currently, The Euro buys 1.2634 U.S. Dollars

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


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