MORNING BUSINESS MINUTE, TUES. MAY 2, 2006
By:
Updated: April 17, 2007
Fed Chair Ben Bernanke told Congress the Central Bank would slow down, maybe pause -- but not stop interest rate hikes.
That soured the mood on the Street, even though we saw positive sales numbers coming from Wal-Mart.
As a result, we saw the Dow lose -23.85 (-0.21%) to close at 11,343.29. The NASDAQ lost -17.78 (-0.77%) to finish at 2,304.79. The S&P 500 lost -5.42 (-0.41%) to close at 1,305.19.
Local stocks posted positive results across the board. Wal-Mart (WMT) added +2.00% to close at $45.93. AllTel (AT) added +1.13% to close at $65.10. Tyson Foods (TSN) added +0.75% to finish at $14.71. JB Hunt (JBHT) added +1.01% to finish at $24.07. Acxiom (ACXM) added +0.12% to close at $25.95.
In terms of economic figures today, we`ll see -- maybe -- April car and truck sales. Earnings today include numbers from ADM, Entergy, RR Donnelly, Verizon and Sirius Satellite Radio.
Overseas in Asia, the Nikkei added +207.21 (+1.2%) to reach 17,132.92 at the mid-day break in Tokyo. The broader Topix added +19.92 (+1.2%) to reach 1,737.09. Back in the U.S., in extended hours trading, the NASDAQ 100 Afterhours Indicator fell -0.25 (-0.01%) to close the night at 1,686.36.
