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Market Update : 
U.S. Stocks Down; Citi, Clear Channel Plunge
Author: 123jump.com Staff
123jump.com
Last Update: 5:49 PM EDT March 26 2008


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U.S. stocks edged lower after rising steadily in the last three sessions. Market averages fell after new home sales declined in February. Home sales plunged 30% from a year ago and durable goods orders fell 1.7% from January and declined 1.4% from a year ago. Crude oil inventories at the end of last week were unchanged. Citigroup led the decliners in Dow after an analyst projected a loss for the year. Clear Channel fell after the deal to go private collapsed.

 
Commodities, Metals, and Currencies

Crude oil increased $5.10 to close at $106.32 a barrel for a front month contract, natural gas increased 14 cent to $9.56 per mBtu, and gasoline futures increased 5.63 cents to close at 273.65 cents per gallon.

Gold increased $14.50 in New York trading to close at $954.20 per ounce, silver closed up $0.58 cents to $18.38 per ounce, and copper for front month delivery increased 4.650 cents to 372.50 per pound.

Wheat futures increased 34.50 cents in Chicago trading and closed at $10.33 per bushel. Sugar increased 9.00 cent to 12.23 cents per pound. Soybean future closed up 45.00 cents to $13.52 a bushel.

Dollar edged lower and traded near a record low against euro to $1.5856 and edged higher against yen to 99.07.

Bond Yields decreased for 10-year U.S. bonds and closed at 3.47% and on 30-year bonds increased to close at 4.32%.
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