All 3 Majors Advanced Today

All 3 major indexes advanced today as investors divined that two more quarter-point interest rate hikes by the Fed probably won't hinder corporate profits. 1,490,641,540 shares were traded @ The New York Stock Exchange®.


Rising crude oil prices benefited a number of energy stocks today.

Shares of Dow Jones Industrial Average (DJIA) component and global #1 oil company Exxon Mobil (XOM) gained $1.47 (+2.46%) to close @ $61.12.

Shares of U.S. #2 oil concern Chevron (CVX) gained $1.26 to close @ $61.36.

The J. Crew initial public offering happened yesterday. 18.8 million shares were sold @ $20 a piece; the company was expecting to sell shares in the $15 to $17 range. The J. Crew IPO ended up raising $376 million.

Shares of J. Crew (JCG) gained $5.55 to close @ $25.55 today, in the stock's first day of trading.

Shares of FedEx (FDX) fell by $1.04 (-0.91%) to close @ $112.97 on news that the United States Postal Service has struck a deal with UPS whereby UPS will carry U.S. mail on their planes. The deal could give UPS a revenue boost of up to $100 million a year.

Shares of United Parcel Service (UPS) added $0.70 to close @ $81.20.


Shares of Rambus (RMBS) fell by $2.58 to $20.55.


Shares of Nike (NKE) fell by $3.91 to close @ $79.72 on news of a decline in profits and an unfavorable profit forecast for the current quarter.


Shares of Wells Fargo (WFC) gained $1.11 to close @ $66.25.


Summary of The U.S. Markets:

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DJIA: Closed @ 10,973.56 (+48.82)

NASDAQ: Closed @ 2,111.84 (+11.59)

S&P 500: Closed @ 1,246.00 (+6.80)

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NYMEX Crude Oil Future is currently @ $72.59/barrel

NY Spot Gold fell by $3.50 to close @ $578.20/ounce

In New York, The U.S. Dollar buys 0.7974 Euros

In New York, The Euro buys 1.254 U.S. Dollars

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

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