Closing Bell: Financials and oil lead market lower, go figure

Posted Jun 3rd 2008 4:28PM by Jon Ogg
Filed under: Lehman Br Holdings (LEH)

Today is a day that could be marked as Ben Bernanke either defending the dollar or saying the rate cycle was done. Either way, the dollar got stronger against the Euro and oil was down over $3.00 per barrel to under $125.00 per barrel. Nervousness over financials and the economy prevailed at the end of the day. Below are the unofficial closing levels:

DJIA 12,400.74 (-103.08)
S&P 500 1377.51 (-8.16)
NASDAQ 2480.48 (-11.05)
52-WEEK LOW CLUB
TOP 10 ANALYST CALLS

Auxilium Pharmaceuticals Inc. (NASDAQ: AUXL) shares were up over 4% at $32.91 in the final minutes of trading today, although shares were mysteriously lower at the end of the day. The company posted positive data on one of its treatments for a condition in diabetics.

Cheniere Energy Inc. (AMEX: LNG) saw a rise of 12% by the final minutes of the day to $6.14 after the company said it would receive two new cargoes in June.

Lehman Brothers Holdings (NYSE: LEH) saw shares plunge again on worries about its health and on rumors that the investment bank had to tap the Fed window for liquidity. Its stock was down 8% at $31.10 in the final minutes of the day.

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