MORNING BUSINESS MINUTE, WEDS., APR. 12, 2006
By:
Updated: April 17, 2007
We saw strong commodities prices Tuesday. Oil went up 24 cents a barrel to close at $68.98 on Nymex, and the Energy Department estimated retail gas prices will rise about 25 cents more a gallon than we saw last summer. However, the government also said the price hike wouldn`t slow demand.
The Dow lost -51.70 (-0.46%) to close at 11,089.63. The NASDAQ lost -22.92 (-0.98%) to finish at 2,310.35 and the S&P 500 lost -10.03 (-0.77%) to finish at 1,286.57.
Local stocks posted mostly negative results. Tyson Foods (TSN) lost -1.28% to close at $13.07. JB Hunt (JBHT) lost -3.30% to finish at $21.71. Acxiom (ACXM) added +0.58% to finish at $25.98. Wal-Mart (WMT) lost -0.44% to finish at $45.50 and AllTel (AT) lost -1.25% to close at $65.38.
Today, we`ll see the February Trade Balance along with crude inventories for last week. Also out today -- the March Treasury budget.
Earnings come from Circuit City and Harley-Davidson.
Overseas in Asia last night, the Nikkei fell -167.91 (-1%) to reach 17,250.22 at the mid-day break in Tokyo. The broader Topix lost -17.99 (-1%) to reach 1,752.19. Back in the U.S., in extended hours trading, the NASDAQ 100 Afterhours Indicator rose 1.25 (+0.07%) to close the night at 1,703.15.
