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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Jan 26, 2000
Page
6
Market wrap with closing prices and quotable figures provided by Ron Campbell Investment Planning Raymond James Financial Services. Includes NASD SIPC member details and contact.
New York AP reports consumer confidence rising to 144.7 in January, the highest since 1967. Economists attribute optimism to low unemployment, stock gains, and low inflation, warning sentiment can shift with policy or political shocks. Mark Zandi of Regional Financial Associates notes continuing euphoria amid strong jobs and markets.
Wal Mart and Sears Safeway Limited Circuit City and others sue Visa USA Inc and MasterCard International in U S District Court seeking 8 1 billion in damages for debit card antitrust violations The suit claims monopoly power in credit cards was used to dominate debit cards forcing high fees and higher consumer costs The action could triple to 24 3 billion if won A court date is set for November 27 and government antitrust probes are noted without regard to current rulings
Exxon Mobil Corp plans to sell 29 West Virginia retail outlets to Petroleum Products, a Belle based distributor, for an undisclosed price. The move shifts most state gasoline retailing from oil companies to distributors, with Pat Graney noting Exxon will join Chevron and Marathon in the distributor lineup.
New York AP reports investors chase the rising tech and Internet related stocks, fueling momentum investing. analysts warn fund managers are pressured to participate to satisfy clients, creating a potential bubble amid record tech gains and widespread stock declines elsewhere in 1999.
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