All 3 Majors Declined Today On Dashed Hopes Related to Short-Term Interest Rates

All 3 major indices retreated as investors got bearish in response to the December Producer Price Index report released earlier today: the higher-than-expected jump in wholesale prices last month translates to a decreased likelihood that the Fed will lower short-term interest rates before the summer of 2007. 1,529,113,350 shares were traded @ The New York Stock Exchange® today.


Summary of The U.S. Markets:

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DJIA: Closed @ 12,577.15 (-5.44)

NASDAQ: Closed @ 2,479.42 (-18.36)

S + P 500: Closed @ 1,430.62 (-1.28)

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WTI Crude Oil Future closed @ $52.63/barrel

NY Spot Gold closed @ $631.30/ounce

In New York, The U.S. Dollar buys 0.7715 Euros

In New York, The Euro buys 1.2962 U.S. Dollars

The Fed Funds Target Rate is 5.25%

Ten-Year Treasury Note Yield is currently @ 4.787%

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