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Economy

Economic Data (USA)

Wednesday, May 10, 2006

The Dow Was The Only Gainer of The 3 Majors Today; Gold Crossed The $700 per Ounce Threshold

Of the 3 majors indices, the Dow Jones Industrial Average (DJIA) was the only index to advance today, as investors reacted bearishly to the press release issued by the Fed following today's rate hike. New York Spot Gold crossed the $700 mark. 1,611,030,830 shares were traded @ The New York Stock Exchange®.


The shining star in the DJIA today was General Motors: shares of GM gained $1.04 to close @ $26.59 in response to positive news related to the company's bond status.


Shares of money manager Legg Mason fell by $8.46 to close @ $108.06.


Shares of U.S. #1 life insurance company MetLife advanced by $1.10 to close @ $53.19.


Shares of global #4 truck manufacturer Navistar International gained $2.68 to close @ $27.99 on news of strong sales.


Summary of The New York Markets
:

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

DJIA: Closed @ 11,642.65 (+2.88)

NASDAQ: Closed @ 2,320.74 (-17.51)

S&P 500: Closed @ 1,322.85 (-2.29)

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

NYMEX Crude Oil Future is currently @ $72.42/barrel

NY Spot Gold gained $4.00 to close @ $703.70/ounce

Currently, The U.S. Dollar buys 0.785 Euros

Currently, The Euro buys 1.2739 U.S. Dollars

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


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