Stocks Mixed After IBM Downgrade Dow Fails to Drag Market
Stocks closed narrowly mixed on a day of fluctuating moves as an IBM revenue downgrade tempered optimism from Monday’s rally. Housing data helped buoy sentiment while techs showed mixed results with Morgan Stanley downgrading IBM’s outlook and Intel slipping.
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New York
Wall Street
IBM
Philip S. Dow
Dain Rauscher Wessels
Minneapolis
Dow Jones
Dow
Standard & Poor
Morgan Stanley
Intel
Microsoft
May consumer prices pause as housing starts surge
Inflation cooled with a flat CPI in May while housing construction climbed 14.6 percent, the largest gain since 1995, led by a 9.6 percent rise in single family home building and a 23.2 percent jump in multifamily projects. Builders cite strong demand and low mortgage rates as positive signals for the housing market and broader recovery. The data suggest the Federal Reserve may hold rates steady through the summer as inflation remains subdued and growth steadies.
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Steven Goldman
Weeden & Co
Greenwich
Conn
Commerce Department
Lennar
Washington
Federal Reserve
Fed
Oscar Gonzalez
John Hancock Financial Services
Labor Department
David Seiders
National Association of Home Builders
Fixed Annuities Offer Guaranteed Returns and Tax Benefits
Fixed annuities are presented as the ideal investment with guaranteed returns and tax favored benefits. They claim no management fees or market risk, according to Jay Eshbach, Financial Advisor, and promote a 5.00% guaranteed rate for 3 years. Call Eshbach Retirement Planning for product information.
MENTIONED IN THIS ARTICLE
Jay Eshbach
Eshbach
Lawmaker accuses Perot of stalling energy crisis testimony
In Dallas AP report Perot Systems defends efforts to stop a California Legislature subpoena over its role in the 2000-01 energy crisis. Sen Joe Dunn accuses the firm of delaying and blocking former employees from testifying while the company compiles thousands of documents for the attorney general and investigators.
MENTIONED IN THIS ARTICLE
Perot
Dallas
Perot Systems Corp
California
Joe Dunn
Dunn
Com
Pany
Santa Ana
Eddie Reeves
Perot Systems
Energy futures fall after profit taking on NYMEX
New York traders booked profits after a four day rally as crude and products slid. API reported gains in crude and distillate stocks while OPEC officials signaled no quota change at June talks and noted possible September output decisions. Brent and gas contracts also eased with weak demand cues.
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NEW York
New York Mercantile Exchange
American Petroleum Institute
London
Brent
North Sea
Tim Evans
FR Pegasus
Evans
Alf Rodriguez
Organization of Petroleum, Exporting Countries
Rodriguez
OPEC
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