US Stock Indexes Close Mixed, Halliburton Surges, Oil Climbs

• June 23, 2008
• David Goodboy

U.S. Stock indexes closed mixed due to increased credit concerns in the financial sector and rising oil prices. The DJIA fell slightly -0.33 to 11842.36, the Nasdaq gave back -20.36 to 2385.73 and the S&P 500 inched ahead +0.07 points to 1318.

Halliburton
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PowerRating) surged 6.10% or $3.05 to $53.08/share after ending takeover talks with Expro International Group.

Ford Motor Co.
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RCN Corp.
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Fisher Communications
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PowerRating) climbed 10.08% or $3.21 to $35.07 after the Seattle based radio station’s owner rejected a $43-$45 buyout offer.

Oil climbed $1.59 to $136.95/barrel, Gold fell $16.50 to $887.20/oz and the VIX slipped 1.14% to 22.61.

Market Snapshot

Dow -0.33 11842.36 NASDAQ -20.36 2385.73 S&P 500 +0.07 1318.00

Economic News

NY Empire State Index (Jun): Actual -8.7%, Consensus -2.0% Net Foreign Purchases (Apr): Consensus 63.2B, Prior 79.6B PPI (May): Consensus 1.0%, Prior 0.2% Core PPI (May): Consensus 0.2%, Prior 0.4% Housing Starts (May): Consensus 980K, Prior 1032K Building Permits (May): Consensus 960K, Prior 978K Capacity Utilization (May): Consensus 79.7%, Prior 79.7% Industrial Production (May): Consensus 0.1%, Prior -0.7% Crude Inventories (06/14): Consensus NA, Prior -4560K Leading Indicators (May): Consensus 0.0%, Prior 0.1% Philadelphia Fed (June): Consensus -10.0, Prior -15.6