Roller Coaster Indexes, Manufacturing Numbers Surprise, Yahoo Drops

Yahoo
(
YHOO |
Quote |
Chart |
News |
PowerRating)
fell to its lowest levels since January
closing down 2.37% or $0.49 to $20.17/share on a declining overall tech sector.

Alcoa
(
AA |
Quote |
Chart |
News |
PowerRating)
weighed on the DJIA declining 3.34% or $1.19
to $34.43/share as Credit Suisse lowered its profit estimates for the aluminum
company.

CIT Group
(
CIT |
Quote |
Chart |
News |
PowerRating)
surged 29.37% or $2.00 to $8.81/share
after agreeing to sell off its home loan and manufactured home business, vowing
to leave the consumer loan business forever.

General Motors
(
GM |
Quote |
Chart |
News |
PowerRating)
added 2.17% or $0.25 to $11.75/share
after surprising analysts with a less than expected drop in sales

Gold climbed $16.20 to 944.50/oz, Oil added $1.39 to $141.39/barrel and the
VIX closed down 1.25% after being up over 5% today.

Market Snapshot

Dow

+23.70 11373.71

NASDAQ

+11.99 2304.97

S&P 500

+4.94 1284.94

Economic
News

Durable Orders (May): Actual 0.0%, Consensus 0.0%

New Home Sales (May): Consensus 510K, Prior 525K

Chain Deflator-Final (Q1): Consensus 2.6%, Prior 2.6%

GDP Final (Q1): Consensus 1.0%, Prior 0.9%

Initial Claims (06/21): Consensus 375K, Prior 381K

Existing Home Sales (May): Consensus 4.95M, Prior 4.89M

Personal Income (May): Consensus 0.4%, Prior 0.2%

Personal Spending (May): Consensus 0.7%, Prior 0.2%

Crude Inventories (06/21): Consensus NA, Prior -1242K

PCE Core Inflation (May): Consensus 0.2%, Prior 0.1%