MORNING BUSINESS MINUTE, WEDS., MAR. 22, 2006
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Updated: April 17, 2007
We saw the Producer Price Index fall %1.4 percent for February, the sharpest decline in that number in three years -- however, the core prices, which exclude food and fuel -- went up higher than expected. Some investors think that might signal a longer series of future interest rate hikes from the Fed.
The Dow lost -39.06 (-0.35%) to close at 11,235.47. The NASDAQ lost -19.88 (-0.86%) to close at 2,294.23. The S&P 500 lost -7.85 (-0.60%) to close at 1,297.23.
Local stocks posted mostly positive numbers. Tyson Foods (TSN) added +0.66% to close at $13.64. JB Hunt (JBHT) added +0.91% to close at $23.20. Acxiom (ACXM) lost -0.65% to cloe at $25.92. Wal-Mart (WMT) added +0.73% to close at $48.11 and Alltel (AT) lost -0.06% to close at $65.41.
In terms of economic numbers due out today -- we`ll only see crude oil inventories for the week behind. Earnings today include quarterly figures from software maker Adobe Systems.
Overseas in Asia, the Japanese markets closed for a holiday at the start of the week. Back in the U.S., in extended hours trading, the NASDAQ 100 Afterhours Indicator fell -3.42 (-0.2%) to close at 1,669.05.
