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Economy

Economic Data (USA)

Friday, February 01, 2008

All 3 Majors Advanced On The Day and On The Week Despite Worrisome Jobs Report

All 3 major indices advanced on both the day and the week despite a worrisome employment situation report. Earlier in the week, the Fed cut short-term interest rates by 50 basis points, as expected.

For the week, the DJIA gained 536.02 points (+4.391%), the NASDAQ Composite Index added 87.16 points (+3.747%), and the S and P 500 Index advanced by 64.81 points (+4.871%).

Summary of The U.S. Markets for Today:

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DJIA: Closed @ 12,743.19 (+92.83)

NASDAQ: Closed @ 2,413.36 (+23.50)

S and P 500: Closed @ 1,395.42 (+16.87)

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NYMEX WTI Crude Oil Future closed @ $88.96/barrel

NY Spot Gold closed @ $907.90/ounce

In New York, The U.S. Dollar buys 0.6756 Euros

In New York, The Euro buys 1.4802 U.S. Dollars

The Federal Funds Target Rate is 3.0%

10-Year Treasury Note Yield is currently @ 3.6%

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