The Biofuels Digest Indexâ„¢ (BDI), a basket of 21 major public biofuel stocks, fell 2.28% today to 100.94 as the market retreated on economic data that showed that borrower credit worthiness had remained intact, and that interest rate cuts were not likely forthcoming from the Federal Reserve.
Green Plains Renewable Energy (GPRE) was down 6.35% today to $16.08. Other major losers were Archer-Daniels Midland (ADM), down 2.31% to $33.02 and Andersons (ANDE) down 1.39% to $48.32. VeraSun (VSE) was down 2.25% to $13.05 despite positive reaction yesterday to its technology investment announcements. The plunge in the Index wiped out gains from three consecutive daily increases in the biofuels sector.
The Dow Jones industrials were down 143.47 points to 13,305.39. The S&P 500 was down 16.72 points to 1,472.70. The Nasdaq was down 21.74 points to 2,608.50. The markets reacted positively to US automotive sales results, a jump in technology spending, and increased oil prices which boosted energy stocks.
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