Wednesday, August 31, 2005

Stock Markets Morning News 8/31/2005

Stocks open flat after GDP misses

U.S. stocks fell on August 30, 2005, a day after Hurricane Katrina hit the Gulf Coast and pushed oil prices to a record, renewing worry that high energy costs will hurt consumer spending and slow the economy. Rachel and Cory Gregs of Biloxi, Mississippi stand in front of what used to be their apartment at the Quiet Water Apartments on Beach Boulevard in Biloxi, Mississippi August 30, 2005. (Mark Wallheiser/Reuters)Reuters - U.S. stocks opened flat on Wednesday after the government reported second-quarter economic growth was slower than previously estimated, offsetting a decline in crude oil prices after the Bush administration said it would tap the Strategic Petroleum Reserve.


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Stocks Creep Higher on Oil Reserve News

National Guard members from the 233 Battalion Engine travel southbound on Interstate 55 near, Jackson, Miss., Tuesday, Aug. 30, 2005, as they make their way toward Gulfport, Miss., to assist with the Hurricane Katrina relief. (AP Photo/Joshua Lott)AP - Stocks crept higher Wednesday as oil prices retreated from record highs after the U.S. government said it would tap its strategic petroleum reserves in the devastating aftermath of Hurricane Katrina.


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Markets continue to assess Katrina's impact;oil soars and Bush releases reserves

Canadian Press - TORONTO (CP) - Early indicators pointed to a flat start to North American markets Wednesday as investors continue to assess the devastation to the Louisiana Gulf Coast caused by Hurricane Katrina.

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Tuesday's Wall Street Glance

AP - Dow Jones Industrials

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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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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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