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Economy

Economic Data (USA)

Friday, August 17, 2007

All 3 Majors Declined On The Week On Continued Heartburn In The Credit Markets

All 3 major indexes declined on the week despite a strong, Fed-inspired finish today, as problems in corporate credit markets continued to spook investors. Early this morning, the Federal Reserve cut the Discount Rate from 6.25% to 5.75%, and signaled that the Federal Open Market Committee (FOMC) is prepared to cut the benchmark Fed Funds Target Rate at the next FOMC monetary policy meeting, if necessary.

2,479,483,340 shares were traded @ The New York Stock Exchange® today.

For the week, the DJIA lost 160.46 points, the NASDAQ Composite Index declined by 39.86 points, and the S and P 500 Index lost 7.70 points.

Summary of The U.S. Markets for Today:

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DJIA: Closed @ 13,079.08 (+233.30)

NASDAQ: Closed @ 2,505.03 (+53.96)

S and P 500: Closed @ 1,445.94 (+34.67)

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WTI Crude Oil Future closed @ $71.98/barrel

NY Spot Gold closed @ $656.30/ounce

In New York, The U.S. Dollar buys 0.7421 Euros

In New York, The Euro buys 1.3475 U.S. Dollars

The Federal Funds Target Rate is 5.25%

Ten-Year Treasury Note Yield is currently @ 4.673%

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