Tuesday, August 30, 2005

Stock Markets Afternoon News 8/30/2005

Stocks fall on oil spike, Fed concern

A palm tree bends due to driving winds as Hurricane Katrina continues to howl on the gulf front of Biloxi, Mississippi August 29, 2005. Much of the city was very heavily damaged by the category four storm. The storm slammed into New Orleans on Monday with winds of 135 mph (216 kph), shutting 91 percent of the normal 1.5 million barrels per day of crude oil production in the Gulf Coast region. (Mark Wallheiser/Reuters)Reuters - U.S. stocks fell on Tuesday, led by declines in retailers, insurers and transportation companies, a day after Hurricane Katrina hit the Gulf Coast, causing oil prices to soar to a new record.


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Stocks Drop in Hurricane's Aftermath

Traders work on the floor New York Stock Exchange at the start of trading Tuesday August 30, 2005.  Markets shook off earlier losses to move up slightly as investors hoped the damage from Hurricane Katrina would not be as great as originally feared. (AP Photo/Bebeto Matthews)AP - Stocks tumbled Tuesday in the devastating aftermath of Hurricane Katrina, which slammed the Gulf Coast, pounded hotels and casinos, constricting oil refinery capacity and leaving insurers to cover losses estimated as high as $26 billion. The Dow Jones industrial average fell more than 100 points in late afternoon trading.


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Higher oil prices, bill from hurricane Katrina depress stock markets

A trader in the oil pit at the New York Mercantile Exchange yells out his bid during early trading Tuesday in New York. (AP/Kathy Willens)Canadian Press - TORONTO (CP) - The Toronto stock market was slightly positive Tuesday afternoon as energy stocks rose along with oil prices.


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Dollar holds gains before data

Reuters - The dollar held on to its gains and touched a three-week high versus the yen on Tuesday ahead of key U.S. consumer confidence data that will kick off a busy week of economic releases.

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Nikkei recovers after gains

Reuters - Japan's Nikkei share average rose 0.94 percent on Tuesday, with investors buying exporters such as Toyota Motor Corp. as a weakening of Hurricane Katrina eased pressure on oil prices and helped a recovery in U.S. shares.

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Monday's Wall Street Glance

AP - Dow Jones Industrials

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NYSE member arrested in threat case

The facade of the New York Stock Exchange on Broad Street in Manhattan April 20, 2005, where it was announced that the NYSE plans to merge with Archipelago Holdings Inc. A New York Stock Exchange member has been arrested in connection with a telephone threat to a fellow member about the NYSE's deal to buy electronic trading company Archipelago Holdings Inc., New York police said on Monday.  (Mike Segar/Reuters)Reuters - A New York Stock Exchange member has been arrested in connection with a telephone threat to a fellow member about the NYSE's deal to buy electronic trading company Archipelago Holdings Inc. , New York police said on Monday.


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NYSE Member Arrested for Alleged Threat

AP - A member of the New York Stock Exchange was arrested Monday for allegedly threatening another member who sued to oppose the Big Board's takeover of electronic rival Archipelago Holdings Inc.

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Oil's Economic Impact May Be Seen This Week

Engineer Ray Johnson waits as Orange County Fire Engine 21 is filled with diesel fuel at a Mobil station Friday, Aug. 26, 2005, in Tustin, Calif. Oil prices crept up to $67.32 a barrel setting a new high Thursday, Aug. 25, 2005. (AP Photo/Chris Carlson)AP - Wall Street has been battered in recent weeks by high oil prices and mounting evidence that rising energy costs — including record gasoline prices — are starting to curtail consumer spending.


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Wall Street wants more competition as NYSE, Nasdaq prep mergers

Canadian Press - NEW YORK (AP) - Philadelphia has a stock exchange?

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