Stock Market Closing Prices – 5/4/10
Dow ( DJIA ) Close - 10926.77 -225.06
Nasdaq Stock Close – 2424.25 -74.49
S&P 500 Close – 1173.6 -28.66
Commodities Closing Prices – 5/4/10
Gold Close - 1167.50 -1.10
Oil Close – 82.47 -0.27
Natural Gas – 4.01
Dow drops 225 points as investors worried Greece's problem could spill over to the rest of Europe and in turn, the U.S.
The market's plunge wasn't a surprise to some analysts who have warned for weeks that stocks were due for a retreat.
The dollar rose against other major currencies, especially the euro. The rising dollar also makes it more expensive for foreign buyers to purchase commodities like oil. That hurts demand. Crude oil fell to $82.74 a barrel on expectations that oil supplies grew last week.
Improved economic reports brought little help to stocks. Pending home sales rise. Merck, Pfizer reported better-than-expected results.
Futures trading suggests the market will open lower.
Stock Market May 5, 2010
ADP Employment - 8:15am EST
ISM Services - 10am EST
Crude inventories - 10:30am EST
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