Dow's Highs Hide Individual Stock Losses
The market's Dow Jones average hits new highs while many stocks fall sharply. Philip Morris and Apple Computer slump from prior peaks as tariffs and earnings outlooks fuel volatility, prompting analysts to flag risk and patient buying opportunities in growth stocks.
MENTIONED IN THIS ARTICLE
New York
Philip Morris
Apple Computer
Standard & Poor’s Corp
the Outlook
Miller
Construction outlays take highest '93 leap
Construction spending rose 1.2 percent in June to a seasonally adjusted annual rate of $460.1 billion, led by a 9.3 percent jump in highways and streets public construction. Private spending rose 0.3 percent with gains in residential outlays offsetting non residential declines.
MENTIONED IN THIS ARTICLE
Washington
Commerce Department
Clinton
EC relaxes currency rules to fortify monetary system
European Community finance ministers widened the fluctuation band for EMS currencies to 15 percent to curb speculation and allow more central bank flexibility. The move drew praise from Germany but drew criticism from the Netherlands and Denmark, with traders noting calmer markets in Brussels while yen rose in Tokyo. The changes take effect immediately and aim to support gradual monetary union progress toward 1999.
MENTIONED IN THIS ARTICLE
Brussels
Belgium
European Community
Theo Waigel
Germany
Bundesbank
Wim Kok
Tokyo
Keith Skeech
EC tightens exchange bands amid currency volatility
The exchange rate mechanism widens fluctuation bands for EC currencies to curb inflation and stabilize rates as investors trade to profit. Traders question urgency of reforms while several currencies including the French franc and the pound face pressure after recent selloffs and fears of expulsion from the system.
MENTIONED IN THIS ARTICLE
England
Spain
France
Europe
Midday Market Highlights Across Wheat Cattle and Stocks
Local markets show Midland Elevator quotes for Wheat 2.89 Corn 2.29 Milo 3.66 Soybeans 6.63. Omaha Livestock Market notes hogs 1100 head mixed 1.00 higher. cattle and calves up 2.00 with steers 74.00 75.00, heifers 73.50 74.50. sheep lambs lower. New York stocks rise as European finance ministers seek calm. Dow up 15.65 to 3555.12 with NYSE volume 105.10 million. ECB moves ease exchange rate pressures.
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Midland
Lawrence
Omaha, Neb
USDA
Omaha
U.S
New York
Wall Street
New York Stock Exchange
NYSE
IBM
Johnson
Kmart
AL Lab
Va Masco
Merck
Archon
MarLyn
Mobil
Motorla
Mylan
BellAti
NtWst
Pfb
BellSo
Yo Bethsi
Norwst
SchrPt
Ys Chrysir
Scott P
Sears
Shaw
Sprint
ColgPal
Conrail
Texaco
Digital
Texinst
Disney
Exxon
Toyru
Ys Goodyr
Hudson
Hanson
S Wellcome
Ye Houlnd
Yorkin
itPowr
Yo Zenecan
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Shearson Lehman Brothers Inc
Michael Metz
Oppenheimer & Co
Dan Miller
Putnam New Opportunities Fund
Boston
May
Sarl F
Kground
Wilcdeu
James Capel
London
Omaha Livestock
ASE
OTC Equity Funds
Inde
Isia
Bank
The
Federal Reserve, Investment Company Institute
Lehman Bros
Lipper Analytical Services
Merrill Lynch
Money Fund Report
Morgan Stanley Capital International
National Association of Real Estate Investment Trusts
Prudential Asset Management
Standard & Poor's
Robert Stanger & Co
World Gold Council
American Stock Exchange
Tate
Prtfolio
CN Bee
Venesenstaaeneagean
Eeenner
Natl Pizza Ceeeoeneeneeneeneensones Sener
Seeeee
JC Penney Quaker
Beenaesevaneageens Allegsan Ys
Sallie Mae
Eveneee
Santa Fe
Seafield’ Shanee
Sears Saeeseeseen Vane
Minolta