The 3 Majors Declined Today As Investors' Knees Continued to Knock About The Potential for More Interest Rate Hikes by The Fed
All 3 major indices lost ground today as comments by Federal Reserve officials William Poole, Thomas Hoenig, and Susan Bies fueled speculation that the Fed will raise the benchmark Federal Funds Target Rate again on June 29. 1,892,843,630 shares were traded @ The New York Stock Exchange®.
Shares of Dow Jones Industrial Average (DJIA) component Boeing (BA) fell by $1.48 (-1.80%) to close @ $80.65.
Google has released a new online spreadsheet program with very basic functionality: no charts, macros, etc. The folks @ Microsoft are probably very pleased that Google's online spreadsheet app' can't really compete with the sophisticated and well-established MS Excel.
Shares of Google (GOOG) gained $15.55 (+4.15%) to close @ $389.99; the stock then gained an additional $0.76 in after-hours trading this evening.
Shares of DJIA component Microsoft (MSFT) fell by $0.37 (-1.64%) to close @ $22.13.
Shares of DJIA component General Motors (GM) fell by $0.80 (-3.07%) to close @ $25.25 on news that plans to cut costs by about $1 billion this year may not be realized.
Shares of NYSE Group (NYX) fell by $3.00 (-4.72%) to close @ $60.50. The NYSE Group owns The New York Stock Exchange® and is currently pushing for a "merger of equals" with Paris-based Euronext. Today, however, French President Jacques Chirac made a public statement supporting the joining of Euronext with Deutsche Boerse.
Shares of U.S. Steel (X) fell by $1.11 (-1.71%) to close @ $63.91; the stock then lost an additional $0.22 in after-hours trading this evening.
With the possibility of more interest rate hikes by the Fed--and the associated increased cost of borrowing for big-ticket items like homes--shares of many home builders declined today.
Shares of KB Home (KBH) fell by $3.28 (-6.68%) to close @ $45.82.
Shares of Lennar (LNR) fell by $1.50 (-3.23%) to close @ $45.00.
Shares of D.R. Horton (DHI) fell by $1.40 to close @ $23.41.
Shares of Pulte Homes (PHM) fell by $1.64 to close @ $28.11; the stock then recovered $0.28 in after-hours trading this evening.
Summary of The U.S. Markets:
----------------------------------------------------------
DJIA: Closed @ 11,002.14 (-46.58)
NASDAQ: Closed @ 2,162.78 (-6.84)
S&P 500: Closed @ 1,263.85 (-1.44)
----------------------------------------------------------
NYMEX Crude Oil Future is currently @ $72.31/barrel
NY Spot Gold fell by $13.70 to close @ $629.50/ounce
Currently, The U.S. Dollar buys 0.7792 Euros
Currently, The Euro buys 1.2833 U.S. Dollars
The U.S. Prime Rate (Fed Prime Rate) is 8.00%
Shares of Dow Jones Industrial Average (DJIA) component Boeing (BA) fell by $1.48 (-1.80%) to close @ $80.65.
Google has released a new online spreadsheet program with very basic functionality: no charts, macros, etc. The folks @ Microsoft are probably very pleased that Google's online spreadsheet app' can't really compete with the sophisticated and well-established MS Excel.
Shares of Google (GOOG) gained $15.55 (+4.15%) to close @ $389.99; the stock then gained an additional $0.76 in after-hours trading this evening.
Shares of DJIA component Microsoft (MSFT) fell by $0.37 (-1.64%) to close @ $22.13.
Shares of DJIA component General Motors (GM) fell by $0.80 (-3.07%) to close @ $25.25 on news that plans to cut costs by about $1 billion this year may not be realized.
Shares of NYSE Group (NYX) fell by $3.00 (-4.72%) to close @ $60.50. The NYSE Group owns The New York Stock Exchange® and is currently pushing for a "merger of equals" with Paris-based Euronext. Today, however, French President Jacques Chirac made a public statement supporting the joining of Euronext with Deutsche Boerse.
Shares of U.S. Steel (X) fell by $1.11 (-1.71%) to close @ $63.91; the stock then lost an additional $0.22 in after-hours trading this evening.
With the possibility of more interest rate hikes by the Fed--and the associated increased cost of borrowing for big-ticket items like homes--shares of many home builders declined today.
Shares of KB Home (KBH) fell by $3.28 (-6.68%) to close @ $45.82.
Shares of Lennar (LNR) fell by $1.50 (-3.23%) to close @ $45.00.
Shares of D.R. Horton (DHI) fell by $1.40 to close @ $23.41.
Shares of Pulte Homes (PHM) fell by $1.64 to close @ $28.11; the stock then recovered $0.28 in after-hours trading this evening.
Summary of The U.S. Markets:
----------------------------------------------------------
DJIA: Closed @ 11,002.14 (-46.58)
NASDAQ: Closed @ 2,162.78 (-6.84)
S&P 500: Closed @ 1,263.85 (-1.44)
----------------------------------------------------------
NYMEX Crude Oil Future is currently @ $72.31/barrel
NY Spot Gold fell by $13.70 to close @ $629.50/ounce
Currently, The U.S. Dollar buys 0.7792 Euros
Currently, The Euro buys 1.2833 U.S. Dollars
The U.S. Prime Rate (Fed Prime Rate) is 8.00%
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posted by Steve Brown | 6/06/2006 09:03:00 PM
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