Stocks slip as investors take profits from rally
Wall Street eased on Friday as traders booked gains from a strong rally amid quadruple witching and thin data. Dow fell 14.31 to 9644.82, Nasdaq -3.85 to 1905.70, S&P -3.28 to 1036.30, yet weekly gains remained solid. Analysts cited cautious optimism about a rebound and strong earnings outlook while noting high valuations and data-driven support from housing and leading indicators. Major movers included FedEx, Palm, and AmerisourceBergen amid broker downgrades and FDA FBI probes.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Richard J. Nash
Victory Capital Management
Standard & Poor
S&p
Nash
Michael Sheldon
Spencer Clarke LLC
FedEx Corp
Morgan Stanley
Palm Inc
Tech
AmerisourceBergen Corp
Wall Street Journal
Food and Drug Administration
Federal Bureau of Investigation
Senate panel OKs GOP redistricting map in Austin
A Senate Jurisprudence Committee vote 4-3 approved a GOP backed congressional redistricting map, set to trigger a Senate floor showdown next week. The measure, paired incumbents Jeb Hensarling and Jim Turner and keeping McLennan Cameron Webb in single districts, could yield 18 or 19 Republican seats. Democrats argued the plan harms minority voting rights and dismissed the map as undemocratic while court challenges loom. The filing deadline for congressional candidates would also move to January 9.
MENTIONED IN THIS ARTICLE
Austin
Senate
Todd Staples
Palestine
Royce West
Dallas
West
Texas
Senate Jurisprudence Committee
Sen
Robert Duncan
Lubbock
Mario Gallegos
Houston
Associated Press
Ohair
Hany Cabluck
Mario Gallegos JR
Dhouston
Lett
R Lubbock
New Mexico
Duncan
House
Tom Craddick
Midland
West Texas
Craddick
Bob Richter
Whitmire Returns From Albuquerque After Boycott Ends
Whitmire left Albuquerque after 30 days with Democrats to resume other business in Texas. The senator, a longtime criminal justice advocate, noted courts would ultimately review redistricting. GOP colleagues praised his decision, while Whitmire said Democrats sought hugs and Republicans one discipline.
MENTIONED IN THIS ARTICLE
Albuquerque
Senate
Whitmire
Tulsa
Texas
Sen
Jane Nelson
GOP
Gasoline prices fall as hurricane weakens market
New York futures slipped on Friday as Hurricane Isaleel weakened, with October gasoline futures down 1.47 cents to 78.76 cents a gallon and intraday lows near 77.90 cents. Brent and crude contracts also fell amid mixed inventories and chatter of oversupply in early 2004.
MENTIONED IN THIS ARTICLE
NEW York
New York Mercantile Exchange
Isaleel
London
International Petroleum Exchange
Nymex
Organization of Petroleum Exporting
Ies
OPEC
Vienna
O'Grady
Federal Energy
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Kyocera
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Actes Fasthe
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Thayne Wiliams
New
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Jennifer Marcontell
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Texas Brokerage Asset Management
W. Baker
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