Stock Market Recap: Playboy Falls Steeply and Fannie Mae makes Gains Despite Loss

  • May 6, 2008
  • Dave Goodboy

Stocks ended in the green today across the board, with the DJIA closing up .58% at +51.29, the S&P500 gaining .92% to close at +19.19 and the NASDAQ rising .93% to +10.77.

Playboy Enterprises
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Fannie Mae
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FNM |
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PowerRating) rocketed up despite a wider than expected loss, but maintained a AAA credit rating by Moody’s.  Shares gained 2.710 or 9.57% after weathering nearly a 52% loss in 2008.

UBS
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PowerRating) cuts 5500 jobs after losing an astronomical 17.3 billion in the first quarter.  The stock dropped 1.59 or 4.3% on the news.

Oil rose to a another record close of 122.73/barrel on Nigerian and Iraqi threats to supply.

Market Snapshot

Dow

 +51.29 13,020.83

NASDAQ

 +19.19 2,483.31

S&P 500

 +10.77 1,418.26

Economic
News

ISM Services (Apr): Actual 52.0, Consensus 49.1

Productivity Prel (Q1): Consensus 49.1%, Prior 49.6%

Pending Home Sales (Mar): Consensus -1.0%, Prior -1.9%

Crude Inventories (05/03): Consensus N/A, Prior 3848K

Consumer Credit (Mar): Consensus 6.0B, Prior 5.2B

Initial Claims (05/03): Consensus 375K, Prior 380K

Wholesale Inventories (Mar): Consensus 0.5%, Prior 1.1%

Trade Balance (Mar): Consensus -$61.3B, Prior -$62.3B