Nasdaq hits year low as Fed hints economy slows
The Nasdaq fell 4.3 percent to 2511.70, its lowest since August 1999, on Fed concerns about a weakening economy and avoidance of rate cuts. The Dow dropped 61.05 to 10584.37 amid a broad market selloff, with mixed volume on the NYSE and uneven gains among Eastern Iowa stocks.
MENTIONED IN THIS ARTICLE
Federal Reserve
Fed
Dow
New York Stock Exchange
Iowa
International Paper
Heinz
Weyerhaeuser
Casey’s General Stores
Wal-Mart
RF Micro
Fiserv
Dell orders face Christmas shipping delays on Dimension 8100 and Inspiron 8000
Dell Computer Corp. reports delays in delivering Dimension 8100 and Inspiron 8000 systems. About 5 percent of Dimension 8100 orders were affected by a Web page glitch. Inspiron 8000 delays were tied to 8X CD-RW drives and 32MB graphics cards. MACC Private Equities posts higher net asset value per share for fiscal 2000, with NAV per share at 13.21 after a 20 percent stock split.
MENTIONED IN THIS ARTICLE
Dell Computer Corp
Dell
Tom Kehoe
Kehoe
MACC
Cedar Rapids
MorAmerica Capital Corp
Fed holds rates as economy slows signaling possible cuts
The Fed left the federal funds rate at 6.5 percent while signaling readiness to cut if needed to avert a recession. Officials led by Chairman Greenspan cited slowing demand and weaker profits from higher energy costs as key risks to the economy.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
The
Fed
Shippers Struggle as Holiday Peak Slows Returns
Cedar Rapids posts record peak volumes as Monday saw 720000 items processed versus 230000 to 260000 typical, while UPS planned 29 million parcels systemwide. Cold weather slows deliveries and raises absenteeism, increasing overtime costs and delaying mail despite seasonal workers.
MENTIONED IN THIS ARTICLE
UPS
Postal Service
Evarts
Cedar Rapids
U.S. trade deficit stays near record high
The Commerce Department reports October 1993 U S goods and services exports fell 1.5 percent to 91.2 billion, while the yearly trade gap runs 363 billion, with imbalances with China and Japan at all-time highs and oils bill rising. The Clinton administration argues the gap reflects global forces amid a slowing U S economy.
MENTIONED IN THIS ARTICLE
Washington
America
China
Japan
Commerce Department
Clinton
U.S
Bill Cheney
John Hancock Financial Services
Boston
United States
Forecast shows larger 2001 corn crop in Corn Belt
ISU climatologist Elwynn Taylor predicts 142 bushels per acre in 2001, up 8 from 2000, with La Nina and soil moisture guiding the forecast. Predictions include price ranges from 1.40 to 2.85 per bushel and soybean price outlook around 4.10 to 6.50 depending on yields.
MENTIONED IN THIS ARTICLE
Marlene Lucas
Cedar Rapids
Elwynn Taylor
Iowa State University Extension
Taylor
Iowa
Robert Wisner
ISU Extension
Wisner
Airbus wins approval to launch the A380 superjumbo jet
Airbus supervisory board formally approves the 12 billion A380 project at Toulouse, aiming for early 2006 service. The double-decker, 555-seat aircraft challenges Boeing 747s, with 50 firm orders and 42 options to date. The European consortium led by EADS holds 80 percent, BAE Systems 20 percent.
MENTIONED IN THIS ARTICLE
Toulouse
France
Airbus Industrie
Airbus
Boeing Co
Manfred Bischoff
Airbus Supervisory Board
European Aeronautic Space and Defense Company
BAE Systems
Boeing
Also Mentioned on This Page
Procter & Gamble
Procter & Gamble Co
Consumer Products Company
P&g
GreatDomains.com
Fly.com
Romantic.com
Sensitive.com
Beautiful.com
Philip Morris Cos Inc
R.J. Reynolds Tobacco Holdings
Philip Morris
Michael Pfeil
R.J. Reynolds
Jan Smith
Reynolds
Djia
Central Bank
Federal Open Market Committee
Alan Greenspan
Wall Street
Federal Funds
Asia
Bruce Steinberg
Merrill Lynch
Bob Stevenson
United Parcel Service
Hy-Vee Food
Mount Vernon Rd
Gazette
Whitney Curtis
By Dave DeWitte
James Evarts
David DeWitte
Davidd
Ing
Kirkwood Community College
Pacific
Midwest
BizFacts
Jerry K Ask
Investment Services
UL Securities
Princor Financial Services Corp
Jerry K. Ask Investment Services
Princor
Chestnut Ridge Cr. N.E
Primus Parade
42Nd St
Morelle Rd
Primus
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