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Economy

Economic Data (USA)

Friday, December 14, 2007

All 3 Majors Declined On The Week Despite Fed Rate Cut

Each of the 3 major indexes lost more than 2% on the week despite Tuesday's rate cut by the Fed. Though a 25 basis point cut was expected and delivered, investors nevertheless were disappointed with the Fed's latest monetary policy moves.

1,305,531,170 shares were traded @ The New York Stock Exchange® today.

For the week, the DJIA lost 285.73 points (-2.142%), the NASDAQ Composite Index dropped 70.42 points (-2.602%), and the S+P 500 Index lost 36.71 points (-2.44%).

Summary of The U.S. Markets for Today:

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DJIA: Closed @ 13,339.85 (-178.11)

NASDAQ: Closed @ 2,635.74 (-32.75)

S+P 500: Closed @ 1,467.95 (-20.46)

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NYMEX Crude Oil Future closed @ $91.27/barrel

NY Spot Gold closed @ $793.10/ounce

In New York, The U.S. Dollar buys 0.693 Euros

In New York, The Euro buys 1.443 U.S. Dollars

The Federal Funds Target Rate is 4.25%

10-Year Treasury Note Yield is currently @ 4.232%

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