Commodity Online
NEW YORK: The US Commerce Department said that personal incomes were up .3% in March while consumer spending was up .4%... just enough to keep up with inflation. The March eurodollars were down .04 at 96.955.

The June U.S. dollar index jumped up .76 to 73.48, the highest close in seven weeks, with growing convictions that the Federal Reserve may be done lowering the federal funds rate. Most commodities traded lower and the June U.S. T-bonds ended up 8/32nds at 117.09/64ths.

The June S&P 500 was higher, encouraged by several earnings reports today, today's drop in commodity prices, and a 2% federal funds rate.

The Institute of Supply Management's manufacturing index was steady at 48.6 in April, better than expected, but still a sign of contraction.

The U.S. Census Bureau said that construction spending was at an annual rate of $1.123 trillion in March, down 1.1% from February's pace. So far in 2008, U.S. construction spending was down 2.4% from a year ago.

The U.S. Labor Department said that jobless claims were up 35,000 last week to 380,000.

Post your comment  (0)

Connect:

Post to Twitter

Post to Facebook