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Economy

Economic Data (USA)

Friday, February 29, 2008

All 3 Majors Declined On Both The Day and The Week

All 3 major indexes lost ground on both the day and the week. Stocks were dragged down by discouraging reports on jobs, new and existing home sales, new orders for durable goods, consumer confidence and consumer sentiment. Insurance behemoth American International Group (AIG), a Dow Jones Industrial Average (DJIA) component, reported loses of $5.29 billion for Q4, 2007. Crude oil for future delivery ended the week at $101.84 per barrel, while New York Spot Gold closed at $974.30 per ounce.

For the week, the DJIA lost 114.63 points (-0.926%), the NASDAQ Composite Index fell by 31.87 points (-1.384%), and the S and P 500 Index declined by 22.48 points (-1.661%).

Summary of The U.S. Markets for Today:

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DJIA: Closed @ 12,266.39 (-315.79)

NASDAQ: Closed @ 2,271.48 (-60.09)

S and P 500: Closed @ 1,330.63 (-37.05)

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NYMEX WTI Crude Oil Future closed @ $101.84/barrel

NY Spot Gold closed @ $974.30/ounce

In New York, The U.S. Dollar buys 0.6588 Euros

In New York, The Euro buys 1.518 U.S. Dollars

The Federal Funds Target Rate is 3.0%

10-Year Treasury Note Yield is currently @ 3.53%

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