Closing Market Commentary

May 16, 2008

U.S. Markets
Stocks closed narrowly mixed as a late rebound amid an expiration of options helped the market trim earlier, steeper losses. Worries about inflation and its impact on consumer spending, stoked by a spike in oil prices and news of a drop in consumer sentiment to a 28-year low, pressured stocks much of the session, offsetting a surprise -- and welcome -- 8.2% jump in April housing starts. The options expiry kicked in during the final moments of trading. NYSE breadth: 16-15 positive. NASDAQ breadth: 16-12 negative. Bonds and the dollar index fell. Gold rose as the dollar eased.

Closing Market Data

Provided by Standard and Poor’s