MORNING BUSINESS MINUTE, WEDS. FEB. 8, 2006
By:
Updated: April 17, 2007
What goes up must come down, an inerrant rule of physics that seemed to take hold of gold, silver and oil Tuesday.
Oil prices dropped $2.02 cents a barrel to close at $63.09, and a sell off of oil stocks started.
On the plus side, we saw earnings from Walt Disney meet expectations.
Didn`t do much -- the Dow lost -48.51 (-0.45%) to close at 10,749.76. The NASDAQ lost -13.84 (-0.61%) to close at 2,244.96. The S&P 500 lost -10.24 (-0.81%) to finish at 1,254.78.
Local stocks posted mostly negative results. Tyson Foods (TSN) lost -0.14% to close at $14.08. JB Hunt (JBHT) lost -1.27% to close at $23.35. Acxiom (ACXM) added +1.49% to finish $24.47. Wal-Mart (WMT) lost -0.75% to close at $44.74.
In terms of economic figures today, we`ll get a look at crude oil inventories from the Energy Department.
Earnings today come from Dean Foods and the Glaxosmithkline.
Overseas in Asia, the Nikkei lost -0.9% to reachg 16,565.69 at the mid-day break in Tokyo. Back in the U.S., in extended hours trading, the NASDAQ 100 Afterhours Indicator rose +4.58 (+0.28%) to close the night at 1,656.42.
