The Dow Jones Industrial Average gained 15.96 points to close out the day at 11,532.88, up 0.14% from yesterday. Technology had another poor performance and the Nasdaq fell 0.66% or 15.51 points to close the day at 2,333.73. The S&P500 fell 0.20% or 2.59 points to close at 1,274.98. If we can continue to see the Dollar strengthen against foreign currency as well as continue to see oil slide I think we can expect the major indices to have a good rest of the week granted
we do not see any economic data come in drastically below expectations.
Oil prices fell again today due to a stronger dollar and a slowing demand for crude oil. Oil ended the day at $109.33 per barrel, down $0.38 or 0.35%. The Dollar continued to gain on the Euro and is currently trading at 0.6898 vs. the Euro and fell to Yen, to 108.28 vs. the Yen. Gold fell to $802.70 per ounce today, a drop of 0.29% or $2.30 an ounce. The 10 year Treasury note fell to 3.6970% today.
Coca Cola (KO: 51.66, -0.30 (-0.58%)) bid $2.5 billion for major juice-maker China Huiyuan Juice Group Ltd., a move that will expand the world’s biggest beverage company’s operations into the fast-growth Chinese market. Atlantic Industries, a wholly owned subsidiary of Coca Cola would purchase the Chinese company for $1.56 a share, which is triple the company’s closing price as of yesterday. Coca Cola is also offering to pay for all outstanding convertible bonds and options.
That’s all for today, catch me tomorrow, same time, same place, for the Bullish Bankers’ Daily Market Recap.
