Stocks Edge Higher Ahead of Key Employment Data
Wall Street rose as Cisco earnings buoyed sentiment and jobless data signaled improvement. The Nasdaq gained 0.9 percent to 1,976.37, the Dow rose 0.4 percent to 9,856.97, and the S&P 500 added 0.6 percent to 1,058.05 amid hiring claims and productivity reports suggesting a recovering labor market. Analysts note investors await October payroll figures and weigh further gains.
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Halliburton seeks delay to bridge asbestos claims gap
Halliburton Co says it needs until November 19 to close the gap between new asbestos claims and nearly 2.8 billion dollars set aside for settlements as it pursues a revised bankruptcy reorganization plan for two subsidiaries. Pabst Brewing weighs sale with Merrill Lynch assessing feasibility for a sale by the Kalmanovitz Foundation, with a mid-2005 deadline under tax law if a reasonable offer arrives.
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Associated Press
Oil futures slide after rally loses momentum in New York
Crude prices eased as analysts split on the rally's vigor with forecasts for further drift. December crude settled at 30.26 a barrel, Brent at 28.44, as traders awaited a weekly natural gas storage report from the EIA.
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