Tuesday, July 05, 2005

Stock Markets Afternoon News 7/5/2005

Stocks climb, Wal-Mart ups consumer view

Reuters - U.S. stocks climbed on Tuesday, with strong June sales from Wal-Mart Stores Inc. driving blue chips and analysts' increases in earnings estimates for Apple Computer Inc. helping Nasdaq.

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Stock markets advance on oil prices, economic optimism, Wal-Mart outlook

Canadian Press - TORONTO (CP) - Stock markets were solidly higher Tuesday as higher oil prices boosted energy stocks while the broader market was encouraged by a better-than-expected report on U.S. industrial activity.

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Stocks Advance on Upbeat Factory Orders

AP - Investors overcame their worries about rising oil prices Tuesday and sent stocks higher after the Commerce Department issued an upbeat factory orders report.

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Wall St seen slipping, oil above $59/bbl

Reuters - Wall Street was expected to open lower on Tuesday -- after being shut on Monday for Independence Day -- as U.S. oil prices climbed past $59 a barrel, stoking fears of a squeeze on corporate profits and consumer sentiment.

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Markets May Get Some Clarity This Week

AP - With crude prices still near historic highs and the Federal Reserve holding steady on interest rates, investors have been looking forward to the start of earnings season to see whether corporate America can still deliver strong profits.

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European shares end at fresh 3-year peaks

Reuters - European shares ended Monday at levels last seen more than three years ago as firm oil prices powered heavily weighted energy stocks, while exporters such as carmakers gained as the euro dipped against the dollar.

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Dollar rallies to 13-month highs vs euro

Reuters - The dollar hit fresh 13-month highs against the euro and 14-month highs versus the pound on Monday after strong U.S. factory data last week cemented expectations for the Federal Reserve to keep raising interest rates.

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Friday's Wall Street Glance

AP - Dow Jones Industrials

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Dollar slips to lows on May durable goods

Reuters - The dollar initially slipped to session lows against the euro on Friday, after a report showed demand for U.S. big ticket items slipped in some categories in May.

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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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