Monday, October 03, 2005

Stock Markets Afternoon News 10/3/2005

Blue-chip stocks sag on rate fears

Reuters - U.S. blue-chip stocks slipped on Monday after data showing stronger-than-expected manufacturing activity last month raised speculation that the Federal Reserve will extend its campaign of interest-rate increases to stave off inflation.

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Dow Sheds 18 on Inflation, Rate Worries

A.G. Lafley, (R) Procter & Gamble chairman and chief executive, speaks while former Gillette Chairman and CEO Jim Kilts looks on during a news conference announcing the closing of the Gillette acquisition at the New York Stock Exchange in New York October 3, 2005. Consumer products maker P&G said on Monday that its $57 billion acquisition of Gillette Co. will hurt earnings per share for the next two years, and start to add profit only modestly in the second half of 2008.AP - Stocks traded mixed Monday after a new report showed the nation's manufacturing sector is expanding but facing even higher prices, triggering worries about inflation and rising interest rates.


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Ameriprise Shares Fall in Debut

AP - Shares of Ameriprise Financial Inc. fell in the stock's debut on the New York Stock Exchange on Monday, as the financial-services company embarked on its spinoff from credit-card and travel giant American Express Co.

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Stock markets mixed on positive U.S. manufacturing data, corporate news

Japanese shoppers stroll in front of a Channel fashion house along the glitzy Ginza street in Tokyo Monday. Corporate Japan is becoming increasingly upbeat about the country's business outlook, a quarterly survey by the Bank of Japan showed Monday, although confidence in the world's second-largest economy didn't rise as much as some economists expected. (AP/Koji Sasahara)Canadian Press - TORONTO (CP) - Financials and energy stocks pushed the Toronto stock market higher Monday afternoon as investors looked ahead to the upcoming earnings reporting season.


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Dollar holds gains after ISM data boost

Secretary of the Treasury John Snow (L) is seen at the unveiling of the new ten dollar bill at Ellis Island, September 28 2005. The dollar ran to a 16-month high against the yen and a three-month peak versus the euro on Monday, boosted by anticipation of more U.S. interest rate rises and a disappointing survey of corporate sentiment in Japan. (Keith Bedford/Reuters)Reuters - The dollar held on to earlier gains on Monday, hovering near a 16-month high against the yen and a three-month peak against the euro, after a U.S. manufacturing survey raised expectations for more interest rate hikes.


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Dollar pops up on headline ISM

Reuters - The dollar climbed back toward session and multi-month highs on Monday after a reading of U.S. manufacturing activity in September beat market expectations.

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Economic Data Should Clarify Storm Matters

AP - Wall Street has been stewing in uncertainty over the economic impact of hurricanes Katrina and Rita, but a new batch of data due in the week ahead will help clarify the situation.

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Friday's Wall Street Glance

AP - Dow Jones Industrials

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Appeals Court Reinstates Grasso Lawsuit

AP - A state appeals court has revived a libel lawsuit that former New York Stock Exchange chief Richard A. Grasso brought against his successor as part of a battle over $187.5 million in severance pay.

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Wall Street set to open flat

Reuters - U.S. stock futures pointed to a mixed start on Wall Street on Friday with the Federal Reserve's favored measure of inflation, the personal consumption expenditure (PCE) deflator, seen rising and consumer confidence set to fall.

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