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Dow up on Open
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teeth53
Supreme |
09-Jun-2006 23:40
Yells: "don't learn through life, learn to grow with life " |
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Dow +34.34 points, tech stocks is showing the at this moments. |
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mamasan
Member |
08-Jun-2006 08:16
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all movemnets are too fast, better to ignore, and come back in July. |
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tanglinboy
Elite |
07-Jun-2006 22:55
Yells: "hello!" |
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Stocks turn higher as oil falls
Major gauges notch modest gains as Wall Street remains on inflation watch; crude prices sink.
NEW YORK (CNNMoney.com) - Stocks rose Wednesday, snapping back after two days of heavy selling, as lower oil prices offered inflation-weary investors some relief. The Dow Jones industrial average (up 24.65 to 11,026.79, Charts) and the Standard & Poor's 500 index (up 3.44 to 1,267.29, Charts) both turned higher and rose about 0.3 percent after falling in the early going. The Nasdaq composite (up 9.76 to 2,172.54, Charts) gained about 0.5 percent about 50 minutes into the session. Stocks slumped Monday and Tuesday after Federal Reserve Chairman Ben Bernanke made hawkish comments Monday that set off a fresh round of inflation worries. The blue-chip Dow has lost nearly 250 points over the past two sessions and traded below 11,000 Tuesday though it closed just above that milestone. Inflation remained a focus for investors Wednesday, and many were keeping an eye on former Fed chief Alan Greenspan, who said at a Congressional hearing that the economy may finally be experiencing some impact from costly oil and that Americans are struggling with rising gas prices. While the former chief of the central bank no longer makes Fed policy, his words are still closely watched by policy-makers and investors, who are scrutinizing every comment from current Fed officials as they seek clues about the outlook for inflation and interest rates. More Fed speak is on tap Wednesday, as Fed Governor Mark Olson is giving opening remarks at a hearing on home lending. Atlanta Fed President Jack Guynn also is due to talk at midday on the economy. In corporate news, Pfizer (Research) has received bids of more than $14 billion for its consumer products division, according to a report in the New York Times. Bidders include British drugmaker GlaxoSmithKline (Research), U.S. drug and consumer product maker Johnson & Johnson (Research), as well as a British household cleaning products maker, Reckitt Benckiser. But the paper reported that leading U.S. consumer products company Procter & Gamble (Research) did not make a bid for the unit. Well known products such as Listerine, Rolaids and Sudafed would be included in the sale. U.S. light crude oil for July delivery fell 80 cents to $71.70 a barrel on the New York Mercantile Exchange. Treasury prices fell, raising the yield on the benchmark 10-year note to 5.03 percent, up from 5 percent late Tuesday. Treasury prices and yields move in opposite directions. In currency trading, the dollar rose slightly against the euro and was little changed versus the yen after hitting a one-month high versus the yen Tuesday. COMEX gold for August delivery sank for a second straight day, falling $10.50 to $624.20 an ounce. In global trade, major Asian markets ended lower, and European shares little changed in early afternoon trading. |
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