MORNING BUSINESS MINUTE, FRI. FEB. 24, 2006
By:
Updated: April 17, 2007
Unemployment claims for last week dropped -- again, seemingly good news, but news nonetheless taken by investors as a signal of a situation grown "too good." worries about inflation coupled with dissappointing earnings numbers from Viacom to create losses on the big board.
The Dow lost -67.95 (-0.61%) to close at 11,069.22. The NASDAQ lost -3.85 (-0.71%) to close at 2,279.32 adn the S&P 500 lost -4.88 (-0.38%) to finish 1,287.79.
Local stocks posted mostly negative results. Tyson Foods (TSN) lost -0.35% to close at $14.16. JB Hunt (JBHT) lost -0.28% to finish at $24.55. Acxiom (ACXM) lost -1.93% to clowe at $24.91 and Wal-Mart (WMT) added +0.48% to close at $45.70.
Today, we`ll see January Durable goods orders.
We`ll have no Dow component company earnings to follow today.
Overnight in Asia, the Nikkei lost -0.7 percent at the mid-day break in Tokyo to reach 15,988.01. Back in the U.S., in extended hours trading, the NASDAQ 100 Afterhours Indicator rose +1.8 (+0.11%) to close the night at 1,674.09.
