MORNING BUSINESS MINUTE, FRI. MAR. 31, 2006
By:
Updated: April 17, 2007
The trouble started when the government released the revised numbers for the GDP for the fourth-quarter. The Commerce Department upped the figure to %1.7 growth, versus the earlier
%1.6 rate. That ended up seen as just too much good news, and we saw selling begin.
The Dow lost -65.00 (-0.58%) to close at 11,150.70. The NASDAQ added +3.04 (+0.13%) to finish at 2,340.82 and the S&P 500 lost -2.64 (-0.20%) to finish at 1,300.25.
Local stocks posted mostly negative numbers. Tyson Foods (TSN) added +0.22% to close at $13.58. JB Hunt (JBHT) lost -1.36% to close at $21.70. Acxiom (ACXM) lost -1.44% to close at $25.95. Wal-Mart (WMT) lost -0.81% to finish at $47.66 and AllTel (AT) lost -0.28% to close at $64.40.
We`ve got payroll numbers today, including income and spending for February. Also out today -- the Chicago PMI for March, and February factory orders.
Overnight in Asia, the Nikkei rose +14.38 (+0.1%) to reach 17,059.72 at the mid-day break in Tokyo. The broader Topix added +4.34 (+0.3%) to reach 1,731.02. Back in the U.S., in extended hours trading, the NASDAQ 100 Afterhours Indicator rose fractionally to close the night at 1,710.
