Friday, August 26, 2005

Stock Markets Morning News 8/26/2005

Stocks dip as consumer sentiment drops

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 slipped on Friday after a report showed U.S. consumer sentiment, a key to consumer spending, fell more than expected in August, suggesting higher gasoline prices are eating into Americans' household budgets.


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Stocks Head Lower on Oil Price Concerns

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 - Stock headed lower Friday as a new report showed a sharp dip in consumer confidence, dragged down by soaring 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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Stocks mixed as RBC earnings help boost TSX, NY flat on high oil prices

Canadian Press - TORONTO (CP) - The Toronto stock market moved higher Friday morning as the financial sector made inroads after Royal Bank's quarterly earnings report.

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Dollar shaken as China denies yuan rumor

Reuters - 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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