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Economy

Economic Data (USA)

Friday, May 02, 2008

All 3 Majors Advanced On The Week As Fed Cut Rates by 25 Basis Points

All 3 major indexes advanced on the week as the Fed cut short-term rates by an expected 25 basis points.

For the week, the DJIA added 166.34 points (+1.29%), the NASDAQ Composite Index gained 54.06 (+2.231%), and the S&P 500 Index rose by 16.06 points (+1.149%).

Summary of The U.S. Markets for Today:

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DJIA: Closed @ 13,058.20 (+48.20)

NASDAQ: Closed @ 2,476.99 (-3.72)

S&P 500: Closed @ 1,413.90 (+4.56)

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NYMEX Crude Oil Future closed @ $116.32/barrel

NY Spot Gold closed @ $855.60/ounce

In New York, The U.S. Dollar buys 0.6484 Euros

In New York, The Euro buys 1.5424 U.S. Dollars

The Federal Funds Target Rate is 2.00%

10-Year Treasury Note Yield is currently @ 3.845%

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