Friday, August 26, 2005

Stock Markets Afternoon News 8/26/2005

Stocks fall on consumer, rate hikes

Traders work in the Oil Futures pit at the New York Mercantile Exchange in this August 3, 2005 file photo. (Mike Segar/Reuters)Reuters - U.S. stocks fell on Friday as a warning by Federal Reserve Chairman Alan Greenspan about rising asset prices and a drop in U.S. consumer sentiment pushed down housing and retailing shares.


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Stocks Make Up Losses As Oil Prices Fall

Traders work the floor of the New York Stock Exchange August 11, 2005. Stocks gained on August 24, 2005 after a surprising gain in new home sales increased demand for equities, offsetting an earlier decline that came on the heels of lower-than-expected durable goods orders. (Keith Bedford/Reuters)AP - Stocks attempted a late-session rally Friday as oil prices backed off record highs and mitigated a sharp dip in the nation's consumer confidence. But the rise in oil prices left the major indexes poised to finish the session and the week lower.


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Energy stocks take TSX lower, NY off on high oil, Greenspan comments

Canadian Press - TORONTO (CP) - The Toronto stock market was practically unchanged Friday afternoon, held back by a lower energy sector despite higher oil prices.

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Nikkei close higher on steel, auto shares

Reuters - Tokyo's Nikkei share average rose 0.28 percent on Friday as investors scooped up steel and auto shares on earnings prospects, though some recent winners such as Fast Retailing Co. Ltd. fell on profit-taking.

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Dollar shaken as China denies yuan rumor

A Chinese woman walks past a poster advertising a foreign exchange business at a bank in Shanghai August 11, 2005. China's yuan strengthened further to a new post-revaluation high versus the dollar on Thursday, a day after the central bank revealed the foreign currencies in its reference basket. REUTERS/Aly SongReuters - The dollar was rattled on Friday by market speculation that China might again revalue its yuan currency, but retraced losses after a denial from the Chinese central bank.


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Thursday's Wall Street Glance

AP - Dow Jones Industrials

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Before the Bell: Google, Plumtree gain

Reuters - Google Inc. rose nearly 1 percent before the bell on Tuesday after the Los Angeles Times reported the Web search company will launch its own instant messaging system .

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Market at Crossroads of Earnings and Oil

AP - Wall Street's gains from bullish second-quarter earnings are evaporating quickly in the face of near-record crude oil futures and increasing evidence that high gasoline prices are diverting consumers' dollars.

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NYSE says fines Merrill Lynch $10 mln

Reuters - The New York Stock Exchange on Monday said it fined Merrill Lynch & Co. , the biggest U.S. brokerage, $10 million for "supervisory and operational failures."

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Stocks set to edge up as Fed tops agenda

Reuters - Stocks were seen opening slightly higher on Tuesday, reversing some of the previous day's losses, with the focus on an expected hike in interest rates.

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