Stocks slip as oil rally, dollar weaken markets edge lower
Wall Street retreated slightly on profit taking amid surging oil prices and a soft dollar, with the Dow down 25.35 to 10,829.19 and the Nasdaq off 0.19 to 2,177.00 as optimism lingered for a year end rally into January. CSM Worldwide forecast Toyota to edge DaimlerChrysler for third in U.S. sales by 2009. Kmart moves to end an $800 million GE Capital line of credit effective January 3. Mortgage rates rose this week with 30 year fixed at 5.81 percent.
MENTIONED IN THIS ARTICLE
Wall Street
Steve Neimeth
AIG SunAmerica
New York Stock Exchange
Toyota Motor Corp
DaimlerChrysler AG
U.S
CSM Worldwide
Toyota
Lexus
Scion
Daimler-Chrysler
DaimlerChrysler
Chrysler
Dodge
Jeep
Mercedes-Benz
Joe Barker
CSM
Ford
Kmart Holding Corp
General Electric Capital Corp
Kmart Corp
GE Capital
Securities and Exchange Commission
Freddie Mac
Gazette
Record November existing home sales hit new high
The National Association of Realtors reports a 6.94 million seasonally adjusted annual rate of existing home sales in November, the highest on record, up 2.7 percent from October. Regional gains appeared across the West South and Midwest, while the Northeast declined slightly. The median price reached 188200 dollars, and experts expect sales to moderate but stay healthy.
MENTIONED IN THIS ARTICLE
Washington
National Association of Realtors
South
Midwest
Northeast
Lereah
Orbit video bar opens in downtown Cedar Rapids
Orbit, a new video bar and dance club, opens January 21 at 219 Second St. SE in Cedar Rapids. It features 22 televisions, two distinct hours for cocktails and dancing, and aims to mirror Chicago or Florida video clubs while attracting after work crowds downtown.
MENTIONED IN THIS ARTICLE
David Wallace
the Gazette
Chuck Solomon
Cedar Rapids
Orbit
Second St
Greg Pittam
Chicago
Florida
Pittam
Solomon
North Carolina
Second Ave
Dublin City
Funaro’s Pizza & Pasta
Third Ave
Court rules VoIP calls not regulable as telecom service
The Eighth Circuit held Minnesota may not regulate Internet based VoIP calls as traditional telecom services. The ruling, seen as a win for Vonage Holdings and similar firms, aligns with FCC guidance that Internet phone services fall outside state telecom regulation though tax power may remain.
MENTIONED IN THIS ARTICLE
ST. Paul
Federal Communications Commission
Eighth Circuit
FCC
U S to resume Canadian cattle imports in March
The United States will allow limited imports of cattle under 30 months from Canada starting March 7, classifying Canada as a minimal risk region after an extensive review. Agriculture Secretary Ann Veneman said the move poses virtually no risk to human or animal health.
MENTIONED IN THIS ARTICLE
Washington
U.S
United States
Canada
Agriculture Department
Department
Agriculture
Ann Veneman
Cattle Imports Face New Restrictions After Mad Cow Scare
The Agriculture Department sets limits on Canadian live cattle and sheep imports. Cattle must be slaughtered by 30 months, travel in sealed containers to a feedlot or slaughter, and move to only one U.S. feedlot. Canadian shipments were banned in May 2003 after mad cow disease appeared in Alberta, with a later case in Washington state in December 2003. The plan for minimal-risk regions failed after the scare.
MENTIONED IN THIS ARTICLE
U.S
Canada
Alberta
Washington State
Agriculture Department
Dubuque Bans Exterior Storage Units Citywide
The Dubuque City Council banned exterior storage containers after July 1 raising a $250 daily fine for violations. Fire Marshal Nevens flagged wiring on units at Wal-Mart and noted unknown contents while Wal-Mart used about 50 containers behind the store.
MENTIONED IN THIS ARTICLE
Dubuque
Gazette
van Milligan
Wal-Mart
Also Mentioned on This Page
Peet
Nasdaq
Kmart
David Lereah
Association
Joel Naroff
Naroff Economic Advisors
Djfmamjjackson
Stior
Iowa City
AP Stockquote
AMEX
C.R
By Dave DeWitte
David.dewitte
Gazettecommunications.com
Usda.gov
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