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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Mar 15, 2000
Page
6
Quotations provided by Ron Campbell Investment Planning and Raymond James Financial Services. Price figures reflect market activity for the day and include participant quotes. Financial services contact listed with NASD and SIPC memberships noted.
The Treasury plans another repurchase of 11 issues of 30 year bonds from 1988 to 1991, paying premiums to sellers. The move, first in 70 years, aims to save future interest costs despite upfront premiums, as surging revenue supports debt reduction.
About 38 Coca-Cola Bottling Co. drivers from Huntington refused to work on Tuesday and formed picket lines at distribution plants in Charleston Logan Parkersburg Clarksburg Bluefield and Huntington. Teamsters Local 505 leader Cliff Brackman said strikers would stay until a settlement and wage agreement are reached amid a contract expiry at midnight Sunday.
Americans boosted purchases of cars, clothing, and groceries in February, lifting retail sales 1.1 percent to 265.7 billion. Economists say steady jobs and rising incomes support consumer spending despite higher interest rates and gas prices, reinforcing expectations for further Fed rate hikes.
The Nasdaq tumbled 200.61 points or 4.1 percent to 4706.63 as biotech losses spread across the market. The Dow fell 135.89 to 9811.24 while the S P 500 declined 24.47 to 1359.15 and the Russell 2000 slipped 17.15 to 572.99. Biotech names like Incyte and Celera Genomics slid sharply after news of an openness data-sharing pact.
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