Wednesday, August 03, 2005

Stock Markets Afternoon News 8/3/2005

Stocks slightly off as Exxon, Oracle slip

Reuters - U.S. stocks dipped on Wednesday as Exxon Mobil Corp. fell after crude oil prices slipped from record levels and software maker Oracle Corp. declined.

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Stocks slide as crude oil prices fall, U.S. economic data disappoint

Canadian Press - TORONTO (CP) - Stock markets lost traction Wednesday afternoon, dipping back into the red after briefly rebounding as crude oil prices eased.

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Stocks Dip on Oil Woes, Time Warner Earns

AP - Wall Street retreated Wednesday as concerns over high oil prices and disappointing earnings from Time Warner Inc. prompted investors to collect profits from the previous session's record-setting gains.

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European shares dip in results flood

Reuters - European shares opened lower on Wednesday as investors absorbed a deluge of results from top companies, while sporting goods firm Adidas fell after agreeing to buy U.S. rival Reebok for 3.1 billion euros.

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Japan's Nikkei firm after hitting 12,000

Reuters - Tokyo's Nikkei average remained firm near the key 12,000 mark on Wednesday after breaking above that level for the first time since April last year, as investors bought strong earners such as Astellas Pharma Inc.

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Tuesday's Wall Street Glance

AP - Dow Jones Industrials

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Stocks up on consumer data

Reuters - U.S. stocks rose on Tuesday, after a government report showed strong consumer spending in June, while a favorable industry outlook from chipmaker Maxim Integrated Products Inc. led the tech-laced Nasdaq to a fresh 4-year high.

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Dollar hits 1-1/2 week low vs yen

Reuters - The dollar hit a 1-1/2 week low against the yen on Tuesday as investors awaited more convincing evidence to boost U.S. interest rate hike expectations after the greenback failed to rally on strong U.S. data.

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Wall Street Hopes New Data Will Fuel Rally

AP - Wall Street's predictions of a summer rally were borne out in July, with stocks enjoying surprising gains thanks to good economic data and a solid earnings performance from corporate America. But as Friday's losses illustrated, investors may be wondering whether stocks are due for a downturn.

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NYSE Criticized Over Governance Policies

AP - When the New York Stock Exchange unveiled its landmark acquisition of Archipelago Holdings Inc., Big Board Chief Executive John Thain pledged that the merged company would be a "model for best practices in corporate governance."

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