Thursday, October 20, 2005

Stock Markets Afternoon News 10/20/2005

Stocks slide more as key levels broken

Reuters - U.S. stocks sank on Thursday as selling pressure mounted late in the day after the benchmark indexes broke key technical levels.

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Stocks Edge Lower on Bleak Pfizer Outlook

Trader Thomas Watts, center, talks on his phone as he works on the floor of the New York Stock Exchange Wednesday Oct. 19, 2005.  Stocks were mixed Wednesday, with a drop in oil prices moderating concerns about consumer spending following Intel Corp.'s disappointing profits and troubling sales forecasts. (AP Photo/Richard Drew)AP - New hints of weakening economic growth and a bleak outlook at Pfizer Inc. pressured stocks Thursday, with the major indexes retreating sharply after the Dow Jones industrials posted their first triple-digit gains in a month.


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TSX falls almost 200 points as energy, financial stocks retreat; N.Y. flat

Canadian Press - TORONTO (CP) - A selloff in the energy sector helped send the Toronto stock market reeling almost 200 points Thursday in the absence of a followup to rumours that a takeover of oil and gas giant EnCana Corp. was in the offing.

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Nikkei snaps 6-day sell-off

Reuters - Japan's Nikkei share average rose 0.7 percent on Thursday and was on track to snap a six-day losing streak as gains on Wall Street encouraged investors to pick up Advantest Corp. (6857.T) and other technology stocks.

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Dollar near two-year high vs yen

Reuters - The dollar stayed in sight of a two-year high against the yen on Thursday though the market moved cautiously on concerns that the pricing in of higher U.S. interest rates may have gone too far.

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Wednesday's Wall Street Glance

AP - Dow Jones Industrials

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Stock futures point to lower open

Reuters - U.S. shares were set to open weaker on Wednesday, adding to the previous session's losses on a disappointing revenue forecast from chipmaker Intel .

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NYSE Members Polled on Archipelago Deal

AP - An anonymous group of New York Stock Exchange members has commissioned a survey that seeks to gauge seatholder interest in alternatives to the exchange's planned acquisition of Archipelago Holdings Inc.

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U.S. stocks set to start lower as oil jumps to $64

Reuters - U.S. stock-index futures pointed to a weaker opening on Wall Street on Monday as oil prices rose more than 2 percent to $64 a barrel.

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WSJ Debuts Tabloid Format in Europe, Asia

AP - The Wall Street Journal debuted a smaller, tabloid format for its European and Asian newspapers Monday, saying the changes would make its articles more accessible to readers.

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