.comment-link {margin-left:.6em;}

Economy

Economic Data (USA)

Wednesday, May 17, 2006

All 3 Major Indexes Lost Ground Today As Investors Worried About Future Interest Rate Hikes by The Fed

All 3 major indices lost ground today: The Labor Department's Consumer Price Index (CPI) report for April, 2006 indicates that inflation appears to be accelerating at a faster pace than many economists and investors were expecting; this may lead to the Fed opting to raise the benchmark Fed Funds Target rate again at the end of June. 2,085,742,890 shares were traded @ The New York Stock Exchange®.


Shares of aluminum giant and Dow Jones Industrial Average (DJIA) component Alcoa fell by $1.48 to close @ $32.16 for


Shares of global #2 PC maker and DJIA component Hewlett-Packard gained $1.05 to close @ $32.16 on news of a strong profits forecast for Q3.


Shares of DJIA component General Motors fell by $1.07 to close @ $24.46 on news that Chief Accounting Officer Peter Bible will resign, and Controller Paul Schmidt will retire.


Shares of Bank of America fell by $1.08 to close @ $48.56.

Shares of Merrill Lynch fell by $2.21 to close @ $70.49.
Shares of Goldman Sachs fell by $4.49 to close @ $148.21.

Shares of Freeport-McMoRan Copper & Gold fell by $3.69 to close @ $56.94. Freeport-McMoRan owns the global #1 gold mine and the global #2 copper mine, by size.


Shares of Exxon Mobil fell by $1.78 to close @ $60.18.


Shares of XM Satellite Radio fell by $1.01 to close @ $16.62 on news that the company is being sued by music labels over copyright infringement and unauthorized delivery of digital music.


Summary of The New York Markets
:

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

DJIA: Closed @ 11,205.61 (-214.28)

NASDAQ: Closed @ 2,195.80 (-33.33)

S&P 500: Closed @ 1,270.32 (-21.76)

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

NYMEX Crude Oil Future is currently @ $68.46/barrel

NY Spot Gold gained $0.30 to close @ $692.10/ounce

Currently, The U.S. Dollar buys 0.7842 Euros

Currently, The Euro buys 1.2752 U.S. Dollars

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


>  SITEMAP  <

www.FedPrimeRate.com
Entire Website © 2019 FedPrimeRate.comSM


This website is neither affiliated nor associated with The United States Federal Reserve in any way.
Information in this website is provided for educational purposes only. The owners of this website
make no warranties with respect to any and all content contained within this website. Consult a
financial professional before making important decisions related to any investment or loan
product, including, but not limited to, business loans, personal loans, education loans, first
or second mortgages, credit cards, car loans or any type of insurance.