Ex-Enron executive pleads guilty to securities fraud
Former Enron investor relations head Mark Koenig, 49, pleaded guilty to aiding and abetting securities fraud. He agreed to surrender 1.49 million dollars in forfeited assets in a related SEC action and cooperate with investigations. Kenneth Lay, Jeffrey Skilling, and Richard Causey face similar charges.
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Stocks rally as oil prices dip amid mixed data
Wall Street advanced modestly as oil fell for a third day, offsetting mixed government reports on orders and housing. Dow +83.11 to 10181.74, Nasdaq +23.83 to 1860.72, S&P 500 +8.77 to 1104.96. Investors cautious ahead of the Republican convention, wary of terrorism fears and high fuel costs.
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Durable goods orders rise while new home sales fall in July
U S durable goods orders jumped 1.7 percent in July led by airplanes machinery and communications equipment, the strongest gain in four months. New home sales dropped 6.4 percent from June to a 1.13 million annual rate, the lowest since December amid weak job growth and high energy prices. Analysts note a mixed but hopeful housing and manufacturing landscape for 2004.
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Commerce Department
Barry Berman
Robert W. Baird & Co
Milwaukee
Washington
America
Ing
David Seiders
National Association of Home Builders
Gold futures rise on mellow U S dollar dynamics
Gold futures edged higher in thin trade as a softer U S dollar spurred light fund and dealer buying. December gold settled at 410 an ounce, while spot gold climbed from 403.55 to 408.15. Silver, copper, cocoa, and sugar also moved, with mixed results across commodities and agriculture.
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