1. Market Trends Emory Trade April 25, 2006

2. Inflation and Interest Rates General Trend: Markets Perform well in times of rising, but controlled inflation –Market of the 1990s Interest Rates rise as inflation rises in order to control inflation –Markets are very weary of interest-rate hikes Japan Unexplained mania

3. Current Interest Rates The yield on the 30-year Treasury bond broke above the 5% level early Friday for the first time since the long bond was revived in February The last time the yield was above 5% was in December, 2004. The 30-year bond last was 17/32 lower at 92-3/32 with a yield of 5.016%

4. Stocks For the first quarter the Dow had its best first quarter since 2002, scoring a 3.7% quarterly gain. The NASDAQ Composite rose 6.1% during the period, marking its best first quarter since 2000. The S&P 500 increased 3.7%, its best quarterly gain since the first quarter of 1999

5. Oil The price of light sweet crude oil has more than doubled since 1997 (NYMEX.com). But markets seem resilient in spite of Oil. –Biggest gains have been made as Oil has soared –Price Impact of Oil seems to be when crossing thresholds Eventually gets factored in However, will reduce savings

6. Current Situation Most major short-term influence is oil Most major long-term influence is interest rates Oil = Stagnant market Interest rate fears subsiding  Rise

7. Additional Resources http://www.nymex.com/index.aspx –Check gold, crude oil, etc. http://business.library.emory.edu/eresources/title/index -sort.php?title=Thttp://business.library.emory.edu/eresources/title/index -sort.php?title=T Emory’s Free E-Resources: Thomson One for buy-side research reports Hoovers for company profiles S&P NetAdvantage for reports and research Factiva / Nexis-Lexis – search newspapers (WSJ) Bloomberg and Economist – good reading material http://finance.google.com/finance –NEW: Google Finance – great company overviews http://finance.yahoo.com –Market Summary: Follow the indices & Track sector performance

8. Stock Market Game Leaders As of 04/25/06 Matthew Perrigino Pear MBP$12.52MBP MBP m100 S&P 500 DJIA Nasdaq ColorNamePortion Consumer Discretionary6% Information Technology83% Telecommunications11%

9. Stock Market Game Leaders As of 04/25/06 David Schmerler dschmer DAS $12.32 Colo r Name Portio n Consumer Discretionary 7% Consumer Staples7% Energy12% Financials4% Health Care6% Industrials20% Information Technology 12% Materials18% Telecommunications9% Unclassified8% DAS m100 S&P 500 DJIA Nasdaq

10. Stock Market Game Leaders As of 04/25/06 Matt Zorn Zornstar ZMF $12.01 ZMF m100 S&P 500 DJIA Nasdaq

11. THIS SUMMER… Research one company/sector Check the conference for bimonthly market updates Submit ideas/questions to the Stock Talks sub-conference Get ready to make some money next semester!

12. NEXT MEETING September: –Cut $100 Check for Fantasy Stock Market Game Leader –Prizes for top attendance records –Form groups to report on companies / sectors Present to EM-Trade to invest in Fantasy SMG Compete against Ivy League Investment Clubs