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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Aug 29, 2000
Page
5
Quotations provided by Ron Campbell Investment Planning Raymond James Financial Services. Money market figures captured with NASD SIPC member status noted.
Americans saw income rise 0.3 percent in July while spending climbed 0.6 percent, driving the personal savings rate to a record monthly low of negative 0.2 percent. Durable goods surged 0.8 percent, nondurables rose 0.5 percent, and wages gained 0.5 percent as the economy started the third quarter strong despite Fed rate hikes.
EW YORK AP Stocks rose Monday signaling growing investor confidence after several indecisive sessions The Dow gained 60.21 to 11252.84 the Nasdaq 4070.59 up 27.91 and the S P 500 rose 7.63 to 1514.09 Financials led with JPMorgan at 145 125 and Citigroup at 58 875 while energy prices and tight labor markets kept inflation risks. The breadth was weak with a few stocks driving gains and sector rotation continuing.
New York analysis notes American consumers ignore Fed rate fears, spending and borrowing amid rising pay and strong growth. Economists warn that persistently low savings and a large trade deficit threaten stability as the United States relies on foreign capital to finance growth.
United Airlines moves to finalize a tentative deal with pilots while negotiating with machinists for wage gains and job security. Investors cheered, with UAL shares up over 2 percent to 51.50, as authorities review the merger bid. Analysts, citing United’s vast network, expect a return to stability if labor talks conclude without major disruption.
Highland Park report details Matthew Balick and Justin Lewis who created Flip Itz, three legged toys with quirky faces that propel when pressed. They formed 2 Bored Boys Inc. and sold 500 packages across Chicago before facing startup challenges.
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