Markets Rally As Microsoft Forecast Lifts Investor Sentiment
Stocks rose on weak earnings as Microsoft upbeat guidance sparked gains across Wall Street. The Dow gained 237.97 to 10 478.99 while the Nasdaq jumped 103.70 to 2 075.74 with several Eastern Iowa names rallying. Comair resumed limited service after a pilot strike and Polaroid faced multiple downgrades amid missed bond payments.
MENTIONED IN THIS ARTICLE
Microsoft
Wall Street
Yahoo
Motorola
New York Stock Exchange
Iowa
Deere
Wal-Mart
General Electric
Kohl’s
Krups Recalls 218 000 Automatic Drip Coffeemakers
Krups North America recalls about 218000 automatic drip coffeemakers from Closter New Jersey due to a overheating electrical connection that can ignite the filter basket support. 37 reports of overheating including 12 fires reported. no injuries. Consumers may call 1 800 810 8687 for a free replacement.
MENTIONED IN THIS ARTICLE
Krups North America
Closter
N.J
Krups
North America
Mortgage rates rise this week across the nation
Freddie Mac reports 30 year fixed rates at 7.21 percent for the week ending July 13 up from 7.19 percent. Fifteen year mortgages rise to 6.76 percent from 6.74 percent. One year ARMs average 5.79 percent, up from 5.71 percent, with points averaging around 1 percent of the loan.
MENTIONED IN THIS ARTICLE
Freddie Mac
Senate halts bankruptcy bill filibuster clears path to conference
The Senate 88 to 10 ends a filibuster on a bankruptcy over haul drafted by Sen. Grassley Iowa. It moves to a conference with the House to create a unified bill. The measure would require debtors with 25 percent repayment over five years to file a reorganization plan.
MENTIONED IN THIS ARTICLE
Washington
Senate
Chuck Grassley
Iowa
House
Grassley
Tom Harkin
Harkin
Day
Bush
Veggie exhibitor scores big at Cedar County Fair
Marlene Lucas reports Kaleb Schott, 6, tops junior vegetable show at Cedar County Fair with a nine-item display. He is aided by grandmother Marge Schott, a veteran exhibitor. The Floral Hall event features vegetables, flowers, textiles, cooking and antiques, with notable entries from Darlene Hulse and Devon and Jodi Esbaum.
MENTIONED IN THIS ARTICLE
Jazette
Marlene Lucas
Kaleb Schott
Tipton
Marge Schott
Marge
Kaleb
Cedar County
Floral Hall
Dolores Timmerman
Darlene Hulse
Clarence
Timmerman
Devon
Jodi Esbaum
Bennett
Jobless claims surge to nine-year high amid auto plant shut downs
U.S. unemployment claims rose to 445,000 for the week ended July 7, the highest since 1992, as auto plants retool for new models. Ford and GM paused all U.S. plants with others closing some facilities, while the four week moving average climbed to 410,750.
MENTIONED IN THIS ARTICLE
Washington
U.S
Labor Department
Paul Taylor
National Automobile Dealers Association
Ford
General Motors
Mercedes-Benz
Mitsubishi
Taylor
BMW hydrogen cars debut in smoggy city showcase
BMW officials unveiled a fleet of hydrogen powered 740hL sedans in Los Angeles to demonstrate engines that emit mainly water and steam. They frame the test as advancing toward oil independence, with ongoing trials at a new research center in Ox if.
MENTIONED IN THIS ARTICLE
Los Angeles
BMW
Oxif
Linn County Fair Opens With Nic Becker Memorial Pie Auction
The Linn County Fair begins a seven day run at Central City fairgrounds highlighted by the Nic Becker Memorial Pie Auction at 6 p.m. Saturday. Becker was a prominent 4-H member and Youth Council figure who died last December. The first scholarship winner will be announced Wednesday at the fair board barbecue. Admission is free and daily judging, shows, and events feature 4-H and FFA activities across a full schedule through Thursday night’s livestock auction and dance.
MENTIONED IN THIS ARTICLE
Nic
Linn County Fair Board
FFA
House proposes 10 year farm subsidy overhaul
The plan would guarantee fixed payments totaling 5.2 billion dollars yearly to grain cotton and soybean farmers when prices fall below target levels. It adds two separate payments per crop tied to price fluctuations and expands the Conservation Reserve Program to 40 million acres.
MENTIONED IN THIS ARTICLE
Washington
House
House Agriculture Committee
Larry Combest
Charles Stenholm
Congress
Stenholm
Combest
Combest- Stenholm
Also Mentioned on This Page
Jack Welch
Welch
Honeywell International Inc
Jeffrey R. Immelt
Comair
Cedar Rapids
Delta Connection
Cincinnati
Polaroid Corp
Standard & Poor’s
Fitch
Polaroid
Djia
BizFact
Bill Filibuster
By E. Michael Myers
White House
Sen
Orrin Hatch
Utah
By Marlene Lucas
Marlenel
Tyiowa
Bmws
Clancys
Clancy
Erie
Linn County
Fair Board
Gardless
Rockwell Collins
Terry, Lockridge & Dunn Inc
Accountants Financial Advisors
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