Stocks Climb On Trade Data, GM Cuts Jobs, Dell Jumps

  • May 29, 2008
  • David Goodboy

US indexes closed up across the board on better than expected trade data when a 0.9% gain in gross domestic product beat estimates of 0.6%. The DJIA added +52.19 ending at 12646.22, the Nasdaq climbed +21.63 to 2508.32 and the S&P 500 climbed +7.42 to 1398.26.

HJ Heinz Co
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Trump Entertainment
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Dell
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Expedia
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Gold plummeted 23.31 to 881.70, Oil drops $4.32 to $126,71 and the EURO/USD Pair gave back another .87 cents on a stronger dollar.

Market Snapshot

Dow

 + 52.19 12646.22

NASDAQ

 + 21.63 2508.32

S&P 500

 + 7.42 1398.26

Economic
News

Durable Orders (Apr): Actual -0.5%, Consensus -1.5%

Chain Deflator-Prel. (Q1): Consensus 2.6%, Prior 2.4%

GDP-Prel (Q1): Consensus 0.9%, Prior 0.6%

Initial Claims (05/24): Consensus 370K, Prior 365K

Crude Inventories (05/24): Consensus NA, Prior -5317K

Personal Income (Apr): Consensus 0.2%, Prior 0.3%

Personal Spending (Apr): Consensus 0.2%, Prior 0.4%

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

Chicago PMI (May): Consensus 48.5%, Prior 48.3%

Mich Sentiment-Rev (May): Consensus 59.5, Prior 59.5%