MORNING BUSINESS MINUTE, TUES. MAR. 7, 2006
By:
Updated: April 17, 2007
Bonds fell for a fourth straight session, sending market interest rates up. The yield on 10-year treasury notes jumped to a 20 month high of %4.74 percent, not considered a good sign for stocks.
We saw the Dow lose -63.00 (-0.57%) to close at 10,958.59. The NASDAQ lost -16.57 (-0.72%) to finish at 2,286.03. The S&P 500 lost -8.97 (-0.70%) to finish at 1,278.26.
Local stocks posted straight losses. Tyson Foods (TSN) lost -1.35% to close at $13.16. JB Hunt (JBHT) lost -3.02% to finish at $23.10. Acxiom (ACXM) lost -1.26% to close at $25.85 and Wal-Mart (WMT) lost -0.46% to close at $45.12.
In terms of economic figures out today -- we`ll see the revised 4th Quarter productivity numbers. We`ll also see Consumer Credit for January, which may have doubled.
In terms of earnings, we have a couple of dozen, but nothing major -- we`ll keep on eye on Kroger.
Overseas in Asia last night, the Nikkei fell -0.9 percent at the mid-day break in Tokyo to reach 15,763.48. Back in the U.S., in extended hours trading, the NASDAQ 100 Afterhours Indicator rose +0.59 (+0.04%) to close at 1,670.53.
