MORNING BUSINESS MINUTE, FRI. APR. 28, 2006
By:
Updated: April 17, 2007
Fed Chair Ben Bernanke testified before Congress -- again stressing the chance that rate hikes could end soon, this time because of rapidly rising energy prices. Oil actually fell $0.96 cents to close at $70.97 on Nymex.
The Dow gained +28.02 (+0.25%) to close at 11,382.51. The NASDAQ rose +11.32 (+0.49%) to close at 2,344.95 and the S&P 500 added +4.31 (+0.33%) to close at 1,309.72.
In terms of local stocks, we saw another split session. Wal-Mart (WMT) lost -0.74% to close at $45.64. AllTel (AT) added +0.72% to close at $64.36. Tyson Foods (TSN) added +0.90% to close at $14.55. JB Hunt (JBHT) lost -0.25% to close at $23.83 and Acxiom (ACXM) added +0.34% to close at $26.29.
Lot of economic figures today -- the First Quarter Gross Domestic Product, the April University of Michigan Consumer Sentiment Index and the Chicago April Consumer Price Index all hit the street.
We`ll have dozens more earnings today, including numbers from Chevron.
Overseas in Asia last night, the Nikkei fell -134.76 (-0.8%) to reach 16,979.78 at the mid-day break in Tokyo. The broader Topix dropped -9.65 (-0.6%) to reach 1,719.72.
Back in the U.S., in extended hours trading, the NASDAQ 100 Afterhours Indicator lost -10.51 (-0.61%) to close the night at 1,706.63.
