Wall Street rebounds as Dow tops 8010 on easing fears
The Dow Jones average rose 189.98 to 8,013.11, its first close above 8,000 since October, with banking shares leading a broad rally. Volume on the NYSE reached 589.67 million, as the S&P and Nasdaq gained about 2 percent alongside signs of cooling inflation and a easing of Asian financial strains. Analysts noted relief from Asia turmoil, with Tokyo and Hong Kong up, OPEC lifting its production ceiling aiding lower oil prices, and a government report showing October construction spending up 0.1 percent.
MENTIONED IN THIS ARTICLE
New York
Asia
Dow
New York Stock Exchange
Hong Kong
Europe
Latin America
Standard & Poor
National Association of Purchasing Management
Federal Reserve
David Wyss
DRI
Lexington
Mass
South Korea
International Monetary Fund
Edward Yardeni
Deutsche ‘Morgan Grenfell
Tokyo
Organization of Petroleum Exporting Countries
Commerce Department
Oil prices dip as OPEC raises output ceiling
Oil futures fell sharply on Monday amid concerns that OPEC will boost its production ceiling to 27.5 million barrels per day, creating a world market glut. January crude dropped to 18.66 a barrel on Nymex as gasoline and heating oil futures slid.
MENTIONED IN THIS ARTICLE
OPEC
New York Mercantile Exchange
Organization of Petroleum Exporting Countries
$6.6 Billion Deal Creates 13th Largest Bank
National City Corp of Cleveland to acquire First of America Bank Corp for about $6.6 billion in stock, announced Monday, to strengthen its Midwest banking presence and form the nation’s 13th largest banking company by assets.
MENTIONED IN THIS ARTICLE
National City Corp
Cleveland
First of America Bank Corp
South Koreans Aid Crisis With Spare Change Drive
In Seoul and among expatriates, workers donate pocket change as South Korea negotiates a large IMF loan. Officials warn funds may not suffice amid conglomerate bankruptcies, credit crunch, and currency devaluation. The government sought an initial 20 billion, later signaling potential 60 billion dollars.
MENTIONED IN THIS ARTICLE
South Korea
Seoul
International Monetary Fund
IME
Weekend Thanksgiving sales show strength in Lawrence area
Lawrence retailers report brisk shopping over Thanksgiving weekend with sales up 5 to 8 percent versus last year. Managers note strong Friday traffic, early openings, and popularity of gifts like sweaters fragrances and KU logo merchandise. Tanger and Riverfront Plaza Center also report doubled or near doubling in some stores and a rise in weekend shoppers.
MENTIONED IN THIS ARTICLE
Lawrence-area
David Longhurst
Lawrence Riverfront Plaza
Weaver's Department
Lawrence
Joe Flannery
Flannery
J.C. Penney
23Rd St
Steve Wyss
KU Jayhawk
Wyss
Wal-Mart
Target
Sears
Kurt Barnard
Barnard
Ernie
Microsoft
Barney
Tanger Factory
N. Third St
Greg Moore
Moore
Riverfront Plaza
Longhurst
TeleCheck Services
Kansas
Missouri
Richard Gwin
Journala
Local Livestock and Grain Markets Report
Monday market listings show farmers cooperative elevators posting mixed grain prices led by wheat at 3.34 to 3.37 and soybeans around 6.79 to 6.84 per bushel with milo 3.96 to 4.02 and corn 2.40 to 2.45. Cattle and hogs markets in St Joseph and Omaha reflect softer slaughter cattle prices, steady to higher slaughter cows and bulls, and varied hog quotes with total weekly sales pegged at 89,400 head.
MENTIONED IN THIS ARTICLE
Farmer's Co-operative Assn
South
Milo
Midland
North
Kansas
St. Joseph
U.S
Spot nonferrous metal prices and lamb market rates
Tuesday market notes show shorn lambs priced at 78-80 dollars for 100-130 lb pelts and wooled lambs at 76-578 dollars for 110-130 lb. Aluminum at 71.8 cents per lb and copper at 84.05 cents per lb. Tin at 3870.4 dollars per ton, zinc at 296.90, silver at 5.221 dollars per troy ounce.
MENTIONED IN THIS ARTICLE
New York
London
N.Y
Also Mentioned on This Page
Wall Street Bulls
National City
First of America
Michigan
Ohio
Indiana
Kentucky
Pennsylvania
Illinois
Richard Brack
Brack
Ljworld.com
Ae . Isl
Sing & Snore
Jurassic Park Mobile Command Center
Terry Seaviews/JOURNAL
Dodge City Livestock
St. Joseph Livestock
Lown
Omaha Livestock Omana, Num
Aspa
Omaha Livestock Market
Dilber
Gut the Mink
Joe Karnes
Prudential Representative
Columbia Dr
The
Prudential Insurance Company of America
Broad Street
Prudential
Newark
Ruvestiventes Mortgage Bankers
Lawrence, KS
Jac Seae
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