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Economy

Economic Data (USA)

Friday, December 19, 2008

The Dow Was The Only Major to Finish Lower On The Week

On the week -- and for the second straight week -- the S&P 500 and the NASDAQ Composite both added points while the Dow Jones Industrial Average (DJIA) declined. On Tuesday, the Federal Open Market Committee (FOMC) of the Federal Reserve opted to establish a target range of 0% - 0.25% for the benchmark federal funds rate, causing the U.S. Prime Rate to drop to 3.25%. Also from Tuesday, the Labor Department reported that consumer prices dropped by 1.7% during November, and the Commerce Department reported that housing starts fell by 18.9% last month.

For the week, the DJIA shed 50.57 points (-0.586%), the NASDAQ Composite Index gained 23.60 points (+1.532%), and the S and P 500 Index advanced by 8.15 points (+0.926%).


Summary of The U.S. Markets for Today:

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DJIA: Closed @ 8,579.11 (-25.88)

NASDAQ: Closed @ 1,564.32 (+11.95)

S and P 500: Closed @ 887.88 (+2.60)

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NYMEX Crude Oil Future closed @ $42.36/barrel

NY Spot Gold closed @ $837.90/ounce

In New York, The U.S. Dollar buys 0.7189 Euros

In New York, The Euro buys 1.391 U.S. Dollars

The Target Range for the Fed Funds Rate is 0% - 0.25%

10-Year Treasury Note Yield is currently @ 2.131%

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