Crude futures rise as gasoline leads gains
NYMEX crude for October settled higher ending three straight losses as gasoline futures climbed. Analysts noted gasoline strength supported crude prices amid expected government and industry inventory reports, while tight domestic and global inventories and regional oil disruptions also influenced sentiment. United States fuel markets held gains amid Nigerian strike news and ongoing industry tensions.
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Stocks fall on Nokia outlook hits market
Nokia earnings outlook again misses expectations sending major indexes down. The Dow loses 79.09 points to 9507.20 while Nasdaq and S P 500 ease. Goldman Sachs downgrades retailers further weighing sentiment. McDonald strategist notes needed revenue confirmation amid rally risk.
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NYSE reveals 48 million in deferred pay for Grasso
Regulators pressed the NYSE to justify Dick Grasso pay and the exchange disclosed 48 million in additional deferred compensation, adding to nearly 140 million previously announced. Grasso’s pay rose from 3 million in 1996 to 25.5 million in 2001, after which he would forfeit the new sum.
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