Nasdaq tops 2000 mark as Dow climbs 125 points
The Nasdaq index breaks the 2000 barrier and the Dow rises about 125 points as markets discount mad cow disease fears and eye 2004. The Nasdaq ends at 2006.48. the Dow at 10450.00 amid light volume. Help wanted ads rise, signaling labor market revival. Union workers at John Morrell ratify a four year contract with wage increases and higher health care deductible.
MENTIONED IN THIS ARTICLE
U.S
Brian Bush
Equity Research
Stephens Inc
John Morrell & Co
United Food & Commercial Workers
Sioux City
Bill Buckholtz
Treasury bill auction shows higher short term rates
Short term Treasury rates rose in Monday’s auction as the Treasury sold 16 billion dollars in three month bills at a discount rate of 0.885 percent and 15 billion dollars in six month bills at 0.995 percent. The implied yields were 0.901 percent for the three month bills and 1.016 percent for the six month bills.
MENTIONED IN THIS ARTICLE
Treasury
Treasury Department
Gazette
News Service
Beef futures fall on mad cow fears amid export doubt
On the Chicago Mercantile Exchange, beef futures slid the daily limit for a third straight session after news of a mad cow case in Washington state. Live cattle for February fell to 81.17 cents per pound as traders weigh U.S. export prospects while major hamburger chains report no sales drop.
MENTIONED IN THIS ARTICLE
Chicago
Chicago Mercantile Exchange
U.S
Washington State
Chicago Merc
Exchange
Merc
Addi
McDonald’s Corp
Lisa Howard
Dow Jones
Denny Lynch
Wendy’s International Inc
McDonald’s
Burger King Corp
Wendy’s
Outback
Rob Doughty
Burger King
Late shopping surge boosts U S retailers in holiday week
A late spending binge lifted sales at internet shops and consumer electronics while department and toy stores lagged. Analysts say the week helped offset December weakness with overall same store gains eyed around 4 percent for the November December period and strong post Christmas performance. MasterCard Advisors reports a 6.5 percent rise from Nov 28 to Dec 24 versus a year ago.
MENTIONED IN THIS ARTICLE
New York
Internet
Consumer Electronics
Michael P. Niemira
International Council of Shopping Centers
Niemira
MasterCard Advisors
MasterCard International
FDA approves Symbyax for depressive phase of bipolar disorder
Eli Lilly won FDA approval to sell Symbyax, a combination of Prozac and Zyprexa, to treat the depressive phase of bipolar disorder. The drug debuts mid to late January for physicians, with potential use alongside Zyprexa for manic phases. Experts call it an incremental but important option for faster relief and reducing suicide risk in bipolar patients.
MENTIONED IN THIS ARTICLE
FDA
Eli Lilly
Indianapolis
Eli Lilly and Co
Symbyax
U.S. Food and Drug Administration
Marni Lemons
Lemons
Verizon to pay MCI 169 million in settlement
A bankruptcy judge approved Verizon Communications Inc. to pay MCI Inc. 169 million to resolve a years long dispute over reciprocal compensation for calls from Verizon customers to MCI customers. The settlement ends numerous suits and sets a three year intercompany fee agreement.
MENTIONED IN THIS ARTICLE
Verizon
MCI
New York
Dow Jones/AP
Verizon Communications Inc
MCI Inc
Federal Communications Commission
WorldCom Inc
Bush administration proposes new tax adviser rules
The Treasury Department would require tax advisers to provide detailed legal and factual support for opinions on tax shelters and warn clients about limitations and penalties. Best practices emphasize clear scope, law and facts backed conclusions, and ethical standards. Public comments are due February 13 with a hearing February 18.
MENTIONED IN THIS ARTICLE
Washington
Bush Administration
Treasury Department
IRS
Pam Olson
Treasury
Also Mentioned on This Page
DOW
Conference Board
New England
South Atlantic
John Morrell
OciTyune
AP Stockquote
AMEX
United States
Madton
Wash
Midway Meats
Interstate Meat
Willamette Valley Meat
Portland
Ore
Kat
Mad Cow
Phil Stanley
ShopperTrak
Ing
Hemant K. Shah
Warren, N.J
Shah
Arthur J. Gonzalez
Department
Iowa
APAC
McLeod USA
McLeod USA A
Aegon NV Mestek
Alcoa Inc
Moore Wallace Inc
Alliant Energy
Nash Finch
Arch Dan Mid
Bandag Inc
Pearson PLC
Caseys Gen Store
Rockwell Collins
Featherlite Inc
Saks Inc
Fiserv
Genencor Intl Inc
Sealed Air
Gen Mills
Skyworks Solution
Gillette Co
Tanger Factory
Heartland Exp
Terex Co
Heinz
Toyota Met
Hon Inds
Union Planters and Paper
Old Fire Cas
Keane Inc US Bancorp
Kohis Corp
US Cellular
Longon
Honova Inc
Macc Pro Eat
Verizon Comm
Marsh & McLennan
WalMart
Maytag
Wells Fargo & Co
Weyerhauser
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