MORNING BUSINESS MINUTE, THURS. MAY 4, 2006
By:
Updated: April 17, 2007
A couple of things contributed to a low-performing Wednesday on the Street. First, we saw a decline in oil prices. A barrel of oil declined $2.33 to close at $72.28 on Nymex. We also saw Procter & Gamble post lower than projected earnings.
In all, the Dow lost -16.17 (-0.14%) to close at 11,400.28. The NASDAQ lsot -5.87 (-0.25%) to close at 2,303.97. The S&P 500 lost -5.36 (-0.41%) to finish at 1,307.85.
Local stocks split the session. Wal-Mart (WMT) added +1.15% to close at $46.69. AllTel (AT) lost -1.17% to close at $64.98. Tyson Foods (TSN) lost -0.07% to close at $14.63. JB Hunt (JBHT) added +1.57% to close at $24.52 and Acxiom (ACXM) lost -0.16% to close at $25.63.
In terms of economic figures today, we`ll see initial jobless claims for the week behind and get a preliminary look at the first quarter productivity numbers.
In terms of earnings, we`ll get reports from Aon Corporation, Eastman Kodak and Goodyear Tire. The asian markets will stay closed for a holiday the rest of the week. In the U.S.,in extended hours trading, the NASDAQ 100 Afterhours Indicator fell -1.93 (-0.11%) in extended hours trading to close the night at 1,684.37.
