Tuesday, September 20, 2005

Stock Markets Afternoon News 9/20/2005

Stocks decline after Fed raises rates

Traders finish the day at the New York Stock Exchange in New York on May 19, 2005. (Seth Wenig/Reuters)Reuters - U.S. fell on Tuesday after the Federal Reserve raised the benchmark interest rate to 3.75 percent and gave no indication it's near the end of its rate-increase campaign.


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Stocks Sell Off Sharply After Rate Hike

Traders surround the post on the floor of the New York Stock Exchange that handles Tempur-Pedic, Tuesday Sept. 20, 2005. Tempur-Pedic International Inc. shares tumbled to their lowest level in over a year on Tuesday, weighed by a quartet of bearish downgrades one day after the mattress maker slashed its full-year financial forecast due to sluggish sales and consumer sentiment that it blamed on Hurricane Katrina. (AP Photo/Richard Drew)AP - Stocks sold off sharply Tuesday after the Federal Reserve said it would continue raising interest rates despite Wall Street's worries about the economic impact of Hurricane Katrina.


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Stocks mixed: TSX lower as investors weigh Ottawa's curve thrown at trusts

Canadian Press - TORONTO (CP) - The Toronto stock market was lower as investors punished stocks of companies that could be affected by a curve thrown at the income trust sector by Ottawa.

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Dollar dips but holds ranges ahead of Fed

Reuters - The dollar fell on Tuesday but still held fairly near the previous session's seven-week high against the euro as the Federal Reserve was widely expected to raise U.S. rates for an 11th straight time later in the day.

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Monday's Wall Street Glance

AP - Dow Jones Industrials

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New $5B energy trust to be formed by merger of Acclaim Energy and StarPoint

Canadian Press - CALGARY (CP) - StarPoint Energy Trust's short but aggressive life will draw to a close as it announced plans Monday to merge with Acclaim Energy Trust, forming Canada's third-largest conventional oilpatch trust with an enterprise value of more than $5 billion.

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Sirius rises, ViaCell falls before open

Reuters - Shares of Sirius Satellite Radio Inc. rose 0.71 percent before the opening bell on Monday after it raised its 2005 full year revenue forecast, and said it expects strong revenue growth in 2006.

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Wall Street seen lower as oil climbs

Reuters - Shares on Wall Street are expected to open lower as oil prices climbed more than 1 percent as a new storm appeared to be headed for the U.S. Gulf Coast.

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Wall Street Casts Wary Eye on the Fed

AP - Wall Street will be focused this week on the Federal Reserve and whether policymakers will raise interest rates an 11th consecutive time, a move that could cause investors to pull back amid greater uncertainty about economic growth in Hurricane Katrina's aftermath.

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Stock futures point higher

Reuters - U.S. stock futures pointed to a higher market open on Friday as investors awaited a report on consumer confidence for indications of how Hurricane Katrina and surging gasoline prices are affecting the psyche of the American shopper.

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