Stocks end high after five days of selling
A mild rally halted Wall Street's five day losing streak as tech shares rebounded. Investors awaited next week's job data while Greenspan reiterated a bullish outlook, keeping volume light and conviction low. Dow rose 35.25 to 10,601.62. S&P 500 up 4.58. Nasdaq up 17.54.
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Wall Street
Federal Reserve
Alan Greenspan
Capitol Hill
Brian Pears
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Standard & Poor
Greenspan
Oil surges over 3 percent on tight gasoline stocks
Oil futures rose 3.2 percent on the NYME after a larger than expected draw in gasoline inventories. DOE data show U.S. gasoline stocks fell 1.6 million barrels to 203.4 million last week, signaling tightening markets as refinery runs slowed. Brent and US gasoline futures also climbed, with prices not seen since August.
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Rydex Investments
National Association of Realtors
Mortgage Bankers Association of America
Association
Stuart Freeman
Ag, Edwards & Sons
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Department of Energy
Energy Information Administration
ChevronTexaco to buy Enron skyscraper in Houston
ChevronTexaco Corp will acquire a 40 story downtown tower built by Enron, with closing set for March 15. The move brings about 300 jobs from California, New Orleans, and Midland, Texas, and consolidates spaces across Houston, with 1.2 million square feet of space involved and plans to employ about 3,700 staff in the building once complete.
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Enron Corp
Chanemeinass 5
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Midland
Texas
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Enron
New York
Intell. Management and Investment Co
Den
Gary Barnett
Intell
Clear Channel adopts zero tolerance indecency policy
San Antonio based Clear Channel Communications unveils a companywide zero tolerance policy to bar indecent material on about 1200 stations. The move follows the firing of a Florida DJ whose morning show antics prompted a proposed 755000 dollar FCC fine last month. Policy includes training, potential fines, and automatic suspensions for FCC indecency accusations.
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San Antonio
Clear Channel Communications
Florida
Federal Communications Commission
FCC
American adds flights from New York
American Airlines announced new nonstop routes from New York area to the West Coast, Florida and the Caribbean. Starting May 1, JFK to San Francisco will be daily, bringing five daily JFK departures in that market. A second JFK to Seattle flight starts June 10. Seasonal JFK to Kingston Jamaica resumes with daily round trips, plus JFK to Caracas Venezuela and to Santo Domingo and Santiago Dominican Republic new services. An extra LaGuardia to Orlando flight begins June 10.
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American Airlines
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Caribbean
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JFK
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LaGuardia
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Fla
Pizza Hut to Deliver Fresh Express Salad Kits Nationwide
Pizza Hut announced on Wednesday it will begin delivering prepackaged family size salads nationwide for delivery and carryout. The Fresh Express Ranch Salad Kits serve a family of four and will cost 2.99 dollars, available starting Saturday. The move follows the chain already offering salads in restaurants.
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Dallas
Pizza Hut
Pizza
Associated Press
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