Tuesday, August 16, 2005

Stock Markets Morning News 8/16/2005

Stocks open flat after Wal-Mart earnings

Reuters - U.S. stocks opened flat on Tuesday following a string of disappointing earnings news, including a weak outlook from retailer Wal-Mart Stores Inc. that overshadowed tamer-than-expected core inflation data.

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Inflation Worries Push Stocks Lower

A trader listens on the phone, center, and to a colleague simultaneously during trading in the oil pit at the Mercantile Exchange in New York, Monday Aug. 15, 2005.  (AP Photo/Bebeto Matthews)AP - A bigger-than-expected jump in inflation worried investors and pushed stocks lower Tuesday, while Wal-Mart Stores Inc. added to Wall Street's oil concerns after it said its customers were feeling the pinch from high gasoline prices.


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Disappointing U.S. economic data drives stock markets lower

Canadian Press - TORONTO (CP) - Stock markets turned lower Tuesday morning despite positive earnings reports and another dip in the price of oil as U.S. inflation hit its highest level in three months.

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Monday's Wall Street Glance

AP - Dow Jones Industrials

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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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Market Should Rise Despite High Oil Prices

AP - A stock market that has shuttled between a level of comfort over the economy and deep anxiety over oil prices may be making that zigzag again this week as the government releases key inflation figures.

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Nikkei ends flat after GDP, off 4-yr high

Reuters - Tokyo's Nikkei average ended down 0.01 percent on Friday, a touch off the previous day's four-year high as weaker-than-expected GDP and a higher yen prompted selling in JFE Holdings and other recent gainers.

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Yen near 6-week high

Reuters - The yen held near a six-week high against the dollar on Friday as investors shrugged off a weaker headline figure for second-quarter growth in Japan and focused on an upbeat outlook for the economy's recovery.

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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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Stocks drop on oil at record $64

Reuters - U.S. stocks slipped on Monday as crude oil climbed to a record $64 a barrel, stoking concerns about the impact of high energy costs on corporate profits and consumer spending, while worries about rising interest rates hurt shares of banks and home builders.

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