MORNING BUSINESS MINUTE, WEDS., MAR. 8, 2006
By:
Updated: April 17, 2007
The yield on the 10-year Treasury note dropped fractionally Tuesday to $4.73 percent -- again, that rising rate meant bad things for the major markets.
We also saw figures from the Labor Department which showed declining worker efficiency, and increasing wage pressures.
The Dow added +22 points (+0.20%) to close at 10,980.69. The NASDAQ lost -17.65 (-0.77%) to finish at 2,268.38 and the S&P 500 lost -2.38 (-0.19%) to finish at 1,275.88.
Local stocks split the session. Tyson Foods (TSN) stayed flat at $13.16. JB Hunt (JBHT) lost -0.56% to close at $22.97. Acxiom (ACXM) added +0.04% to close at $25.86 and Wal-Mart (WMT) added +0.33% to close at $45.27.
In terms of economic figures due out today -- we don`t have much. We`ll get a look at crude oil inventories for the week behind.
Earnings today come to us from Dynegy, Six Flags and Southwest Gas.
Overseas in Asia, the Nikkei lost -79.09 (-0.5%) to reach 15,646.93 -- the broader Topix lost -10.95 (-0.7%) to reach 1,606.92.at the mid-day break in tokyo. Back in the U.S., in extended hours trading, the Nasdaq 100 Afterhours indicator fell -0.84 (-0.05%) to close the night at 1,660.18.
