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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Aug 18, 2000
Page
6
The August 17 2000 Money column lists closing prices with quotations provided by Ron Campbell Investment Planning and Raymond James Financial Services. Details include NASD and SIPC member status and contact info.
Stocks rose modestly with the Dow up 47.25 to 11 055.64 and the Nasdaq up 79.67 to 3 940.87 as oil producers and semiconductor firms led gains. Investors eyed a Fed meeting next week amid signs of cooling economy and uncertain profits in the second half.
The Labor Department reports 313,000 first-time unemployment claims for the week ended Aug 5, up 14,000 from the prior period. The figure tops economists’ forecast of about 291,500 and surpasses the 300,000 threshold seen as signals of very tight labor markets. Economist Ken Mayland calls the rise a gradual pattern amid an economic slowdown.
Washington AP report states that union negotiators from IBEW and CWA threaten to walk out at midnight Thursday if no substantial progress on new contracts for Verizon phone workers is reached. The move jeopardizes a strike impacting 25 million customers as talks slow and unions cite sluggish progress. Leaders Myles Calvey and other negotiators say they will leave the table unless imminent agreement emerges.
United Airlines and its parent United airmail UAL Corp warned third-quarter earnings would fall below the prior $2.60 to $3.20 guidance. Stock fell about 0.88 to 48.63 after the news. The carrier announced a new perk offering bonus frequent flyer miles to customers flying 25 000 miles or more annually as an apology.
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