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Market Update Analysis: 
SanDisk Soft Sales; Coal, Oil Higher
Author: 123jump.com Staff
123jump.com
Last Update: 11:12 PM EDT May 19 2008


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U.S. stocks closed mildly higher after rallying in the morning. The index of leading indicators rose 0.1% in Apri lifting stocks in the morning and several brokers recommended buying tech and transportations stocks. The morning rally failed to take hold in the afternoon and tech stocks closed lower. Union Pacific, Norfolk southern and Burlinton Northern closed higher. SanDisk fell after the company confirmed softness in April sales.

 
Wheat futures increased 15.50 cent in Chicago trading and closed at $7.91 per bushel. Sugar decreased 38 cent to $10.75 per pound. Soybean future closed down 45.00 cents to $13.33 a bushel.

Dollar edged higher and traded near record low against euro to $1.5508 and edged higher against yen to 104.195.

Yields on U.S. bonds decreased to 3.81% with 10 years of maturities and decreased to 4.56% with 30-year of maturities.
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