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Newspaper
Baytown Sun
Location
Baytown, Texas, United States of America
Date
Aug 22, 2003
Page
7
Officials from Chambers County and Anahuac along with the Anahuac Chamber of Commerce welcomed Family Dollar to Anahuac on Thursday. District Manager Ed Schiller said the new store would challenge the neighboring Dollar General, praising the easy access and shopping experience while City Manager Stephone Taylor called the opening a sign of positive development for the area.
U S stocks rose with the Nasdaq at a 16 month high as jobless claims cooled. The Dow added 26.17 to 9423.68 and the Nasdaq gained 17.01 to 1777.55 with the S P 500 up 2.97 to 1003.27. The Labor Department said last week new claims fell to 386,000, its lowest in six months, while leading indicators and the Philadelphia Fed index showed gains.
Rates on 30-year mortgages climbed to 6.28 percent, the seventh increase in eight weeks, staying just below the year's high of 6.34 percent. The move follows bond market volatility spurred by Fed signals on deflation and unconventional policy, with economists predicting further rises as the economy rebounds. The Fed aims to keep short-term rates at a 45-year low to support a slow recovery.
In New York, reformulated gasoline in the harbor spot market sparked a NYMEX rally as September futures surged 9.57 cents to 1.0993 dollars per gallon. Brent crude rose on the London IPE, while heating oil and natural gas also edged higher. Analysts call the spike temporary due to peaking driving season and shifting refinery focus to winter stocks.
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