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Economy

Economic Data (USA)

Friday, July 11, 2008

All 3 Majors Declined On The Week On Jitters Related to Fannie Mae and Freddie Mac

All 3 majors lost value on the day and on the week as investors worried about the health of mortgage giants Fannie Mae and Freddie Mac. Once again, crude oil for future delivery ended the week above $145 per barrel. Both the DJIA and S&P 500 ended the week in bear market territory.

For the week, the DJIA lost 188.00 points (-1.665%), the NASDAQ Composite Index lost 6.30 points (-0.281%), and the S&P 500 Index fell by 23.41 points (-1.854%).


Since closing with record highs on October 9, 2007, the Dow Jones Industrial Average (DJIA) has now lost 3,063.99 points (21.631%), while the broader S&P 500 Index has lost 325.66 points (20.807%.)


Summary of The U.S. Markets for Today:

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DJIA: Closed @ 11,100.54 (-128.48)

NASDAQ: Closed @ 2,239.08 (-18.77)

S&P 500: Closed @ 1,239.49 (-13.90)

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NYMEX Crude Oil Future closed @ $145.08/barrel

NY Spot Gold closed @ $964.60/ounce

In New York, The U.S. Dollar buys 0.6275 Euros

In New York, The Euro buys 1.5937 U.S. Dollars

The Federal Funds Target Rate is 2.00%

10-Year Treasury Note Yield is currently @ 3.94%

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