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Newspaper
Baytown Sun
Location
Baytown, Texas, United States of America
Date
Aug 05, 2003
Page
5
NEW YORK Stocks closed mixed to start the week with no earnings news guiding traders. The Dow and Nasdaq rebounded from early losses as analysts cited technical factors rather than fundamentals and noted a 9,050 Dow and 1,690 Nasdaq as key support levels amid expectations of a second-half 2003 recovery.
U S factories posted a 1.7 percent jump in June orders from May. gains spread across machinery appliances autos and nondurable goods. Economists expected 1.5 percent and ISM data later month show manufacturing improving with readings above 50. Analysts note bounceback and possible near term profits amid stock market gains.
Butler notes higher patrols during National Night Out can reflect strong community engagement as residents step out and report suspicious activity. Baytown Police Chief Byron Jones highlights high participation and mutual benefits when neighbors meet and connect outside.
The Baytown budget foresees a 19.3 percent rise in health and dental insurance for city workers with a 15.3 percent premium hike for employees and retirees. It also adds two medical plans and a new dental plan, plus seven plan design changes. A proposed library hours cut to 7 p.m. weekdays draws opposition from patrons and council members. The next budget workshops are Tuesday at 8 a.m. and Wednesday at 4 p.m. at Baytown City Hall.
Crude futures eased on Monday as traders booked profits after Friday’s sharp rise. September light crude settled at 31.84 a barrel, down 1.5 percent, with heating oil and gasoline also lower. Brent on the London exchange traded around 29.53, while analysts cited OPEC’s steady production ceiling and demand forecasts for the year.
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