Stockship investors pull back as fears weigh on Wall Street
Wall Street jittered on Tuesday as terrorism fears resurfaced and federal arrests were linked to Sept 11 plots. Major indices ended lower after a midday Ashcroft briefing. Dow fell 36.95 to 9340.08, Nasdaq down 3.64, S&P 500 down 5.12 as earnings mood dimmed. Monsanto dropped 4.23 to 32.56 amid selling.
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ExxonMobil profits drop in third quarter
ExxonMobil reported a 29 percent drop in third quarter net income to 3.18 billion dollars or 46 cents per share, below analyst forecasts. Excluding merger related items, profit fell about 23 percent to 3.32 billion dollars with revenue at 53.01 billion dollars.
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ExxonMobil
Petroleum stocks slip as bears forecast rise
New York oil futures fell on Tuesday after forecasts of a weekly rise in U.S. inventories plus expectations that OPEC members would not cut output before November 14. Front-month December crude settled down 41 cents at 24.85 while post-trade data showed higher national stocks of motor gasoline, crude oil and distillate fuels. The president of the Organization of the Petroleum...
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OPEC heads toward oil output decision in Vienna meeting
Exporting Countries chief Chakib Khelil said on Tuesday OPEC will decide at its extraordinary ministers meeting in Vienna on November 14. He indicated a market discussion and an appropriate decision without confirming a 1 million barrel daily cut, a suggestion linked to Hugo Chavez.
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Oil and gas prices dip as U S stockpiles rise
November heating oil futures drop 51 cents to 62.11 cents a gallon while November gasoline falls 78 cents to 59.01 cents a gallon. Natural gas wholesale price declines 12.6 cents to 2.6801 per 1000 cubic feet. Brent crude in London slips to 20.94 per barrel as U S crude stocks rise 4.9 million barrels to 303.7 million. Distillates up 556,000 barrels to 126.1 million.
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