Tuesday, October 04, 2005

Stock Markets Morning News 10/4/2005

Stocks gain on declining oil, solid data

Reuters - U.S. stocks gained strength on Tuesday, helped by a sharp decline in crude oil prices and a stronger-than-expected report on August factory orders.

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Stocks Fall on Profit Shortfall Warnings

Investors discuss over share prices at the lobby of the Tokyo Stock Exchange in Tokyo Tuesday, Oct. 4, 2005. After more than a decade of decline, Japanese stocks are finally staging a comeback. The Tokyo Stock Exchange's benchmark Nikkei index has shot up 23 percent since May, compared with a flat-lined Wall Street, and hit consecutive four-year highs in recent sessions. The only question is whether the recovery's real or false start like those of the 1990s. This time, however, analysts and investors say there important reasons to be optimistic. (AP Photo/Itsuo Inouye)AP - Stocks edged lower in early trading Tuesday despite a drop in oil prices as a number of companies warned of profit shortfalls and higher costs, some of which could be passed on to consumers.


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Wall St seen up

Reuters - U.S. futures pointed to a firmer Wall Street start on Tuesday as oil prices eased under $65 a barrel offering some counter-inflationary comfort to a market haunted by an increased likelihood of more interest rate hikes.

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Dollar holds firm on Fed rate talk

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 remained firm on Tuesday near this week's three-month highs against the euro and 16-month peaks versus the yen as a Federal Reserve official joined the hawkish chorus on U.S. interest rates.


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Nikkei on track for 4-year high

Reuters - Tokyo's Nikkei share average gained 0.92 percent and was set to book a new four-year closing high on Tuesday as investors bought high tech firms such as Kyocera Corp. and other exporters following the yen's drop to near a 16-month low against the dollar.

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Monday's Wall Street Glance

AP - Dow Jones Industrials

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TSX up on energy stocks, NY mixed as data stokes inflation fears

Canadian Press - TORONTO (CP) - The Toronto stock market got off to a positive start to fourth-quarter trading with investors bidding financials and energy stocks higher ahead of the upcoming earnings reporting season.

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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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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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