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Economic Data (USA)

Thursday, May 11, 2006

All 3 Major Indices Retreated Today On Inflation Fears: Gold Hits $720.10 per Ounce

All 3 major indexes lost ground today as investors worried about inflation: the price on New York Spot Gold, which closed @ $720.10 per ounce earlier today, contributed much to the day's bearishness. 1,825,773,090 shares were traded @ The New York Stock Exchange®.

Shares of Dow Jones Industrial Average (DJIA) component AIG fell by $3.39 to close @ $63.15 on news of sagging profits in the first-quarter.

Shares of Movie Gallery gained $1.62 to close @ $4.78 on news of strong first-quarter profits. Movie Gallery is the U.S. #2 video rental company.

Shares of UnitedHealth Group fell by $1.80 to close @ $44.37 on news that the SEC has launched an informal inquiry into the company's stock-options grants. UnitedHealth may have to restate 3 years worth of earnings. UnitedHealth is the U.S. #2 health insurance provider.

Summary of The New York Markets


DJIA: Closed @ 11,500.73 (-141.92)

NASDAQ: Closed @ 2,272.70 (-48.04)

S&P 500: Closed @ 1,305.92 (-16.93)


NYMEX Crude Oil Future is currently @ $72.59/barrel

NY Spot Gold gained $16.40 to close @ $720.10/ounce

Currently, The U.S. Dollar buys 0.7776 Euros

Currently, The Euro buys 1.286 U.S. Dollars

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



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