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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
May 19, 2001
Page
6
The market in review on May 18 2001 shows an 11301 74 per change from the previous session and a low near 11303 76 while a record high reached 11722 98 on January 14 2000. Major indices fluctuated with modest gains and losses as traders assessed earnings and global cues.
United States stock market ended a strong week with modest advances as Dow Jones rose 53.16 to 11,301.74 and S&P 500 gained 3.47 to 1,291.96 while Nasdaq added 5.20 to 2,198.88. Traders cited option expirations and a tech rebound with Cisco up while Dell slid. Energy shares climbed as oil rose. Wall Street remained below record highs but showed continued recovery from a slump.
President Bush urged action on a broad energy package promising energy security and a future with fewer blackouts, lower dependence on foreign oil, and incentives for solar and wind power while noting a summer of shortages if lawmakers block drilling, nuclear power, and conservation measures. Democrats call for more environmental safeguards and relief for current energy woes.
Vice President Cheney developed the Bush administration energy policy to raise supplies by easing public land restrictions, including a Alaska wildlife refuge, and speeding energy project permits. It envisions eminent domain for transmission lines and weighs auto fuel standards and spent fuel reuse, aiming to balance energy needs with environmental concerns amid 2002 election pressures.
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