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Market Update : 
Nasdaq Up 0.3%, Dow Down 0.9%, S&P Up 0.2%
Author: 123jump.com Staff
123jump.com
Last Update: 4:19 PM EDT March 30 2007


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U.S. stocks fell dragging the Dow Jones Industrial Average to its first quarterly loss since June 2005, on concern new duties on Chinese imports may provoke a trade war. Commerce Department said February personal income and consumption increased at a seasonally adjusted rate of 0.6%compared to January. Take-Two shares declined 3%. PMC-Sierra rose 13% after the company said it would cut 175 jobs. Vodafone Group declined 4%.

 
5:30AM Gold finishes lower, while copper and crude oil advance.

June gold shed $5.30 to end at $667.60 a troy ounce on the New York Mercantile Exchange, while May silver lost 11.5 cents to close at $13.34 an ounce. July platinum fell $10.20 to close at $1,247.60 an ounce, while June palladium was off $1.85 to settle at $356 an ounce. The most-active May copper contract gained 2.4 cents to settle at $3.0865 per pound.

The May crude oil futures contract gained $66.50 a barrel before finishing at $66.03 a barrel, up $1.95. April heating oil surged 4.98 cents to finish at $1.8772 a gallon. April gasoline soared 7.83 cents to $2.1355 a gallon. Front-month May natural gas futures, though, lost 6.3 cents to close at $7.609 a million British thermal units.

On the New York Board of Trade, Arabica coffee futures declined, reaching the lowest levels in a week an a half, on selling by funds and locals. May coffee finished 2.1 cents lower at $1.1060 a pound, and July coffee closed 2 cents weaker at $1.1350 a pound. Futures on raw sugar in foreign ports dipped to six-month lows as funds sold the front months. May sugar ended 0.27 cents lower at 9.85 cents a pound, while July sugar closed 0.24 cents weaker at 9.96 cents a pound.
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