Tuesday, August 30, 2005

Stock Markets Morning News 8/30/2005

Stocks slide on storm's damage toll

National Oceanic and Atmospheric Administration satellite image shows Hurricane Katrina approaches the City of New Orleans in this image taken at 7:45 A.M. EDT on August 29, 2005. Gusty winds and heavy rain squalls swept across southern Louisiana on Monday as giant Hurricane Katrina bore down on the U.S. Gulf coast and threatened to swamp the city of New Orleans. At least a million people had fled the area ahead of the powerful storm, which weakened as it neared land to top winds of 155 mph and was downgraded to a Category 4 storm on the five-step Saffir-Simpson scale. (Reuters - Handout)Reuters - U.S. stocks declined on Tuesday, amid concerns about the damage toll of one of the costliest hurricanes in U.S. history.


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Higher oil prices, bill from hurricane Katrina depress stock markets

Canadian Press - TORONTO (CP) - Stock markets were lower Tuesday as oil prices again took off and investors considered the huge financial toll from hurricane Katrina.

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Stocks Drop in Hurricane's Aftermath

Flooding takes place after Hurricane Katrina hit New Orleans, Monday Morning, Aug. 29, 2005. Officials called for a mandatory evacuation of the city, but many resident remained in the city. (AP Photo/Eric Gay)AP - Stocks slipped Tuesday in the aftermath of Hurricane Katrina, which slammed the Gulf Coast, constricting oil refinery capacity, pounding hotels and casinos and leaving insurers with damages estimated as high as $26 billion.


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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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