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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Jun 14, 2000
Page
7
Closing prices and quotations are provided by Ron Campbell Investment Planning and Raymond James Financial Services. Report includes market data figures and brokerage contact details for investor inquiries.
In London and New York prices surged to three month highs amid skepticism OPEC will boost production at the June 21 meeting. WTI crude rose to 32.73 per barrel and Brent reached 31.70 as analysts noted no increase in supply is expected. Iran and officials signaled opposition while White House diplomacy continued.
Federal Reserve Chair Alan Greenspan said information technology has driven a major productivity rise, arguing a structural, irreversible tech wave boosts output per hour. He cited recent gains, noting the impact could rival the post Civil War telegraph era, while avoiding hints on future rate steps.
Stocks rose as retail sales data suggested a cooling economy, boosting hopes the Fed will keep rates unchanged at the June meeting. The Dow gained 57.63 to 10,621.84 while the S&P 500 rose 23.44 to 1,469.44 and the Nasdaq added 83.18 to 3,851.09. Major movers included Merck up 3 to 72.94 and Warner-Lambert up 3.69 to 126.75. Hewlett-Packard fell 7 to 119 after Sanford Bernstein cut its rating and earnings estimates.
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