Microsoft trial resumes after lengthy 13 week recess
In Washington the government calls economist Franklin Fisher to the stand as rebuttal in the antitrust case against Microsoft. Fisher argues Microsoft spent millions on Internet software and gave it away to defend Windows monopoly, while Microsoft claims IE bundling was a technical consumer benefit.
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Economy worries restrain market gains on inflation fears
On Tuesday the Dow rose 36.52 to 10,596.26 while broad indicators closed lower. Traders cited inflation worries and a May NAPM report showing continued industrial expansion and rising raw material prices, tempering gains despite a late session rebound. William Meehan of Cantor Fitzgerald commented on the muted decline given inflation jitters.
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Inflation fears rise as raw material prices jump
U S manufacturers report first price rise for raw materials in 16 months fueling inflation fears on Wall Street. A May rise in the NASM index signals stronger industrial activity, but higher commodity costs sparked volatility as the Dow falls and long term yields edge up toward 6 percent.
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