Wednesday, October 05, 2005

Stock Markets Morning News 10/5/2005

Stocks slump on weak service-sector data

Reuters - U.S. stocks fell on Wednesday, with investors growing jittery after data showed growth in the economy's vast services sector slowed more sharply than expected in September.

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Stocks Slip on Service Sector Reading

Traders work on the floor of the New York Stock Exchange (NYSE). Wall Street shares turned higher, helped by a fall in oil prices and a sharper-than-expected rise in US factory orders in August(AFP/File/Tim Clary)AP - Stocks extended their selloff Wednesday after a surprisingly weak reading on the service sector of the economy.


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Global indicators mostly negative for North American markets; oil price flat

Canadian Press - TORONTO (CP) - Global indicators were mostly negative for North American stock markets early Wednesday while a key crude oil price stayed below $64 US a barrel ahead of the weekly U.S. inventory report.

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NY stocks set for sluggish start

Reuters - U.S. stock index futures pointed to a flat opening on Wall Street on Wednesday, a day after stocks were hit by interest-rate concerns, while trading will also be cautious ahead of services data.

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Dollar slips but poised near highs

Reuters - The dollar slipped on Wednesday but held near a three-month high against the euro and a 16-month peak versus against the yen as more Federal Reserve officials made clear U.S. interest rates are heading even higher.

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Nikkei hits four-year high, slips back

Reuters - Tokyo's Nikkei stock average hit a new four-year intraday high before finishing the morning session a tad weaker on Wednesday as earnings concerns hit Pioneer Corp. and other technology issues.

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Tuesday's Wall Street Glance

AP - Dow Jones Industrials

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SEC moves forward on Nasdaq application

Reuters - The Nasdaq Stock Market Inc. on Tuesday moved ahead in its long-standing push to be recognized as an exchange by U.S. market regulators.

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Stocks extend losses after Fed comments

Reuters - U.S. stocks extended losses on Tuesday after Dallas Federal Reserve Bank President Richard Fisher said the U.S. central bank needed to be vigilant on inflation, triggering worry about a longer cycle of interest-rate hikes.

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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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