Thursday, June 23, 2005

Stock Markets Afternoon News 6/23/2005

U.S. stocks fall as oil hits record

Reuters - U.S. stocks fell on Thursday as oil prices hit a record $60 a barrel, with lower outlooks from transportation and retail companies offering proof of oil's drag on profits.

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Stocks Drop Sharply As Oil Surges to $60

AP - Stocks dropped sharply Thursday as oil reached a new all-time high over $60 per barrel, prompting a selloff in a battered transportation sector that spread to the rest of the market. The Dow Jones industrials were off 111 points.

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North American markets fail to find traction as crude oil prices move higher

Canadian Press - TORONTO (CP) - North American stock markets were mostly flat late Thursday morning, with investors laying low while crude oil prices climbed.

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Two More Seat Holders Sue NYSE Over Merger

AP - Two more New York Stock Exchange seat holders filed suit against the Big Board Thursday, seeking the release of documents and records of the exchange's merger agreement with all-electronic rival Archipelago Holdings Inc.

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Euro slips again, rate cut talk persists

Reuters - The euro slipped toward last week's nine-month low against the dollar on Thursday as expectations grew European interest rates would move further below those in the United States.

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Wednesday's Wall Street Glance

AP - Dow Jones Industrials

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US blue-chip stocks end lower

Reuters - U.S. blue-chip stocks ended lower on Wednesday, as weakness in Ford Motor Co. shares spread to its Detroit rival and Dow component General Motors Corp., while tech stocks drew support from a higher outlook from Jabil Circuit Inc.

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Stocks seen touch higher on techs

Reuters - Technology stocks could drive U.S. stocks higher early on Wednesday but a fresh earnings warning from Ford and another expected drop in U.S. oil inventories should keep market gains limited.

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Tenacious Markets to Be Put to the Test

AP - The stock market has proven to be downright scrappy, with investors still bidding stocks higher last week as crude oil prices topped $58 per barrel and the nation's economic picture remained muddled.

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U.S. shares trim gains as oil spurts

Reuters - U.S. stocks were little changed on Monday, trimming earlier gains as oil spurted above $55 a barrel, raising concerns about corporate earnings and reduced consumer spending.

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