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Economy

Economic Data (USA)

Wednesday, July 05, 2006

The 3 Major Indices Lost Ground Today As Crude for Future Delivery Hit Record Highs

The 3 major indexes lost ground today as crude oil for future delivery hit a record high of $75.40 per barrel. Investors also got somewhat bearish in response to today's government report on U.S. Factory Orders for May, as the positive numbers may translate to an increased likelihood that the Fed will raise interest rates again on August 8TH. 1,512,777,970 shares were traded @ The New York Stock Exchange®.


Shares of Dow Jones Industrial Average (DJIA) component Boeing (BA) fell by $1.13 (-1.39%) to close @ $80.17; the stock then recovered $0.37 in after-hours action this evening, on news that Boeing may be the only company that can provide fast delivery of heavy-lift aircraft and helicopters for the Canadian government, a package that's worth about $7.3 billion.

Shares of DJIA component Caterpillar (CAT) fell by $1.64 (-2.19%) to close @ $73.13.

Shares of DJIA component American Express (AXP) fell by $1.01 (-1.89%) to close @ $52.50.


Shares of Duquesne Light Holdings (DQE) added $2.95 (+17.94%) to close @ $19.39 on news that a large Australian investment bank will purchase the Pittsburgh electric utility in a deal worth about $1.59 billion.


Shares of Midway Games (MWY) gained $1.21 (+12.82%) to close @ $10.65.


Shares of Lear Corp. (LEA) gained $1.11 (+5.17%) to close @ $22.60.


Shares of Blue Dolphin Energy (BDCO) gained $1.27 (+28.10%) to close @ $5.79.


Shares of Commerce Bancorp (CBH) fell by $2.52 (-7.13%) to close @ $32.80; the stock then lost an additional $0.64 in after-hours action this evening.


Shares of Stamps.com Inc. (STMP) fell by $3.10 (-11.27%) to close @ $24.41.


Shares of EMCORE Corp. (EMKR) fell by $1.14 (-11.34%) to close @ $8.91; the stock then recovered $0.19 in after-hours action this evening.


Shares of Zoran Corp. (ZRAN) fell by $2.52 (-10.37%) to close @ $21.79; the stock then recovered $0.21 in after-hours action this evening.


Shares of Quest Software (QSFT) fell by $1.40 (-9.87%) to close @ $12.78.


Shares of Atheros Communications (ATHR) fell by $2.71 (-14.78%) to close @ $15.63; the stock then recovered $0.17 in after-hours trading this evening.


Shares of Trident Microsystems Inc. (TRID) fell by $3.33 (-17.26%) to close @ $15.96.


Shares of Meridian Gold Inc. (MDG) fell by $1.79 (-5.46%) to close @ $30.99.


Shares of Harmony Gold Mining (HMY) fell by $1.07 (-6.26%) to close @ $16.03.


Shares of JSC Tatneft (TNT) fell by $6.33 (-7.48%) to close @ $78.30.


Shares of LG Philips LCD (LPL) fell by $1.18 (-6.46%) to close @ $17.10.


Summary of The U.S. Markets:

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

DJIA: Closed @ 11,151.82 (-76.20)

NASDAQ: Closed @ 2,153.34 (-37.09)

S&P 500: Closed @ 1,270.91 (-9.28)

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

NYMEX Crude Oil Future is currently @ $75.08/barrel

NY Spot Gold gained $3.80 to close @ $627.50/ounce

In New York, The U.S. Dollar buys 0.7855 Euros

In New York, The Euro buys 1.273 U.S. Dollars

The U.S. Prime Rate (WSJ Prime Rate) is 8.25%


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