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Newspaper
Baytown Sun
Location
Baytown, Texas, United States of America
Date
Jan 04, 2002
Page
11
NY analyst buzz lifts tech shares as investors see Intel optimism signaling a broader tech recovery. Dow posts best four-month finish in four months, with Nasdaq up 3.3 percent and S&P 500 up 0.9 percent, as Barry Hyman notes Intel’s pivotal role in lead.
President Bush returns from Texas to push his renamed economic security plan in California and Oregon with a White House push including a radio address and TV appearances. He seeks Senate action on tax cuts and expanded unemployment benefits as Wall Street rallies on improving tech and GM and Ford forecast gains but warns about ongoing unemployment and cautious investors.
Senate Governmental Affairs subcommittee chair Sen. Carl Levin says documents from Enron’s board, senior managers, and its auditor will be subpoenaed as part of an inquiry into the company’s collapse. A Jan. 24 hearing will examine regulator failures and investor losses amid Enron’s bankruptcy and stock plunge.
New York crude and petroleum futures eased on Thursday as traders booked profits after Wednesday gains despite API data suggesting a mixed U.S. inventory picture. Crude declined to 20.37 dollars a barrel while heating oil and gas prices slipped and Brent futures eased on London exchanges. Distillate stocks rose slightly while gasoline reserves fell, with analysts interpreting the moves as yearend inventory shifts by Gulf Coast refiners. In grains, soft red winter wheat rallied to multi year highs on signs of rebounding demand for U.S. wheat.
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