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Bluefield Daily Telegraph in Bluefield, West Virginia

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Newspaper

Bluefield Daily Telegraph

Location

Bluefield, West Virginia, United States of America

Date

Aug 26, 2003

Page

6

Stocks slip as downgrades weigh on market in light session

Investors sold stocks for a second straight day amid light volume and few news catalysts. Dow fell 31.23 to 9317.64 as Caterpillar and Alcoa led declines after downgrades. Nasdaq slipped 1.01 to 1764.31 while S&P 500 added 0.65 to 993.71. Analysts note small weekly gains and a summer slowdown, with traders awaiting clearer signals.

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Fears of high mortgage rates push July home sales to record

Rising mortgage rates spurred buyers into the housing market with July existing home sales at 6.12 million, the highest on record. The National Association of Realtors noted a 5 percent surge from June, while the national median existing home price rose to 182100 dollars, up 4 percent from June and 12 percent from a year ago. Regional gains were reported across the Northeast, South, Midwest and West.

Washington National Association of Realtors David Lereah Freddie Mac Lereah South Midwest West

Verizon unions near agreement for East Coast workers

Verizon Communications and its unions near a deal as 78,000 East Coast operators and technicians start a fourth week without contracts. Spokesmen from IBEW and CWA express optimism while both sides press final details. Public relations tensions had flared over a union conference call when a cease-fire was reportedly breached.

Washington Verizon Communications Jim Spellane International Brotherhood of Electrical Workers Verizon Communications Workers of America Spellane CWA Chicago Eric Rabe

Also Mentioned on This Page

the Market IN Review NYSE St. Luke’s Hospital St. Luke’s Mercer Mall Center Court Radio Shack American Eagle Phillip Rust CLU CHFC LUTCF Sam Ross CFP Secure Money Rust Ross St. Luke’s Senior Friends Luke’s Hospital Prienld
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