Stocks Rally As Investors Buy Cyclical Issues
New York AP stocks posted solid gains as investors bought economically sensitive issues after a stronger than expected inflation report. The Dow rose 20.31 to 3,773.45 as Caterpillar, International Paper and Alcoa gained and steel stocks advanced on heavy volume amid a recovering industry. The core wholesale inflation rose 0.4 percent, while the producer price index fell 0.1 percent. Bonds slipped with the 30-year yield at 7.30 percent.
MENTIONED IN THIS ARTICLE
New York
Labor Department
Des.gested
Federal Reserve
Dow Jones
Caterpillar
International Paper
Alcoa
J.P. Morgan
Michael Gambardella
Wholesale prices drop in May as core index rises
The Labor Department reports May wholesale prices fell 0.1 percent, matching April and signaling the second straight monthly decline. Core prices rose 0.4 percent, driven by clothing, tobacco, and autos, sparking debate on near-term inflation and potential Fed action. Analysts disagree on implications for rates, with some predicting possible August increases while others say inflation remains subdued.
MENTIONED IN THIS ARTICLE
Washington
Labor Department
Elliott Platt
Donaldson, Lufkin & Jenrette Securities Corp
Federal Reserve
Wall Street
Eugene Sherman
M.A. Schapiro & Co
Virginia Homebuyer's Manual published by VBA
The Virginia Bar Association's Real Estate Section releases The Virginia Homebuyer's Manual in its second edition to guide Virginians through buying a home from area selection to closing. It explains real estate terms and steps, with a $1.50 price and ordering details via VBA. Also notes Williams H.S. Williams Company award and Bank of Tazewell County employees' Cool and Casual Day for MDA on June 16 with a $5 donation.
MENTIONED IN THIS ARTICLE
Homebuyer's
Virginia Bar Association
VBA
Virginia Homebuyer's Manual
Virginia
Virginia Homebuyer's
Joseph W. Richmond
MDA
Bank of
Tazewell County
Tazewell
Bluefield
Mobil restructuring cuts 55 Houston area jobs
Mobil Corp plans to cut about 55 jobs in the Houston Petro Chemicals Division as part of a broader Mobil Chemical restructuring to trim costs. The division headquarters now has 110 workers and about five positions will be eliminated at the olefins facility along the Houston Ship Channel.
MENTIONED IN THIS ARTICLE
Houston
Mobil Corp
Mobil Chemical Co
Fairfax
Petro Chemicals
Mobil
John Lord
Lord
Mobil Chemical
United States
Oppenheimer & Co
Oppenheimer
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Ron Campbell
Family Corp
Ameritech
At&t Corp
AM. Water Works
Anheuser-Busch
Apple Computer
Ashland Coal Inc
Ashland Oil Inc
Atlantic Richfield
Baker-Hughes Inc
Baltimore Gas & EL
Bearings Inc
Bell Atlantic
Bellsouth Corp
Bethlehem Steel
Boeing CO
Cabot Oil & Gas
Carolina Power
Chevron Corp
Chrysler Corp
Chubb Corp
Citizens Utilities
Coca-Cola CO
Columbia Gas Sys
Columbia Healthcare
CON
Nat'l Gas
Corning Inc
Crestar Financial
Detroit Edison
Dominion Res. Ee
DOW Chemical
Eastman Kodak
Emerson Ctric Corp
Exxon Corp
First Union Corp
1St Virginia Bank
Ford Motor CO
Electric CO
GEN. Motors Corp
GTE Corp
Georgia Pacific
Gillette CO
Glaxo Holdings
Goodyear Tire
Hercules Inc
Humana Corp. Ceu Sas Nae Fe Ee Ge Eas
IBM Corp
Ingersoll-Rand
JOY Technologies
K-Mart Corp
Kroger CO
Lowe's CO
Merck & CO. Inc
Monsanto CO
Mylan Labs
Nash Finch CO
Nationsbank Corp
Navistar Int'l
Norfolk Southern
Occidental Pete
ONE Valley Bank
Pacific Telesis
J.C. Penney CO
Pennzoil CO
Pepsico Inc
Phila. Electric
Philip Morris Cos
Phillips Petroleum
Ston Services
Omac Elec
PWR
INC
Reebok Int
Reynolds Metals
Rite Aid Corp
RJR Nabisco Hldg
Rockwell Int'l
Sara Lee Corp
SEARS
Sherwin Williams
Shoney's Inc Signet Banking
Union Carbide
Union Pacific
Unisys Corp
Universal Corp
Usair Group
USX
Marathon Oil
U.S. Steel
Wal-Mart
Walt Disney CO
Wendy's Intl
Westinghouse EL
Westmoreland Coal
ACO Corp
Xerox Corp
Ers
Fed
Donald Ratajczak
Georgia State University
Atlanta
U.S. Chamber of Commerce
Martin Re
Producer Price Index
Williams H.S. Williams Company, Inc
Marion
American Buildings Company
American
H.S. Williams Company
Harry S. Williams
Williams
Systems Builder Association Hall of Fame
American Builders Company
Metal Construction News
Carolinas
Tennessee
Kentucky
West Virginia
Maryland
Georgia
Ohio
Eufaula
Ala
Dunn Motors
FBI
Bland
Nancy Spannaus
U.S. Senate
LaRouche
WCVB
Bristol
WVVA
NBC
Spannaus
Eagles
Steve Simons Proc
Mercer Mall
Bluefield Salvation Army
Princeton Salvation Army
Bluefield Union Mission Mercer Co. Humane Society
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