All 3 Major Indexes Declined Again Today On Continued Concerns About Inflation and The Possibility of Another Fed Rate Hike

All 3 major indices declined again today as investors continued to worry that the Federal Open Market Committee (FOMC) may opt to raise the benchmark Fed Funds Target Rate again at the end of June. 1,832,376,700 shares were traded @ The New York Stock Exchange®.


Shares of Dow Jones Industrial Average (DJIA) component Caterpillar lost $1.29 to $74.62.


Shares of Burlington Northern Santa Fe fell by $3.71 to close @ $72.42. Burlington Northern Santa Fe is the U.S. #2 railroad.


Shares of Deere & Co. fell by $2.84 to close @ $83.61. Deere is the global #1 manufacturer of tractors, combines and harvesters.


Shares of Sears gained $17.89 (12.97%) to close @ $155.85 on news of strong first-quarter net income. The stock gained an additional $1.15 in after-hours action this evening.


Shares of Countrywide Financial lost $1.45 to close @ $39.67. Countrywide Financial is the U.S. #1 mortgage lender by size.


Summary of The New York Markets:

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DJIA: Closed @ 11,128.29 (-77.32)

NASDAQ: Closed @ 2,180.32 (-15.48)

S&P 500: Closed @ 1,261.81 (-8.51)

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NYMEX Crude Oil Future is currently @ $69.60/barrel

NY Spot Gold fell by $11.50 to close @ $680.60/ounce

Currently, The U.S. Dollar buys 0.7783 Euros

Currently, The Euro buys 1.2848 U.S. Dollars

The U.S. Prime Rate (WSJ Prime Rate) is 8.00%

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