Dow climbs on Microsoft outlook wins market
Wall Street gains lift the Dow 137.33 points to 9,188.15 as investors rally after Microsoft raises its fiscal 2004 outlook and traders bet on a late-year economic recovery. Nasdaq and S&P also rise, with mixed weekly results and gains led by financials and airlines.
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Microsoft
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Wells Fargo Securities
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Michael Murphy
Wachovia Securities
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Obj
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Eae
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Delity Invest
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Muasonal
Mars
Greenspan’s 2002 income falls as rates stay low
Federal Reserve Chairman Alan Greenspan reported 2002 investment income from Treasury securities and money market accounts between 55 000 and 139 000, down from 106 000 to 309 000 in 2001. He notes low rates reduced earnings for savers while the Fed keeps policy aimed at stabilizing the economy.
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Alan Greenspan
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Federal Open Market Committee
United States
Ron Paul
Texas
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House Financial Services Committee
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Freddie Mac lobbyist held numerous GOP fundraisers
Freddie Mac chief lobbyist held at least 50 fundraisers for congressional Republicans over 2 1/2 years as the company dodged regulatory attempts. More than half supported lawmakers on committees overseeing the firm, prompting questions about campaign money influence on legislation.
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Freddie Mac
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Dell Inc Name Change Approved by Dell Corp Shareholders
Dell stockholders meeting in Austin endorsed changing the company name to Dell Inc to reflect a broader range of technology products and services. CEO Michael Dell cited the shift from hardware to servers, storage systems, and related services as the main reason for the change.
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Dell Computer Corp
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Ford to cut jobs in cost reduction plan
Dearborn Michigan Ford Motor Co plans to cut about 10 percent of salaried automotive staff by year end, potentially eliminating up to 2000 white collar positions. The move supports the ongoing restructuring aimed at trimming $2.5 billion in costs by 2003, with executives not stating an exact target.
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University of Michigan
Dow Jones
KeyCorp
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Dearborn
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Ford Motor Co
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Vnes
Crude Reaches $32 as Gasoline Prices Rally
Crude oil futures climbed to $32 a barrel amid a refinery glitch at Marathon Ashland Petroleum in Garyville Louisiana. A 104000 barrel per day fluid catalytic cracking unit will shut for two weeks, boosting gasoline prices by 50 to 75 cents a gallon in key markets.
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Marathon Ashland Petroleum Inc
Garyville
Barrebaday
Gulf Coast
New York Harbor
London
International Petroleum Exchange
Brent
O'Grady
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