Profit reports may not boost stocks as much as hoped
Stock analysts expect healthy second quarter profits though higher interest rates and a weak dollar could temper year over year gains. The Dow slid 42 points then rose 21.69 to close 3,646.65, with IBES forecasting earnings up about 13.5 percent for 4,388 U.S. firms and S&P affiliates up 11.7 percent. Some see tech, autos, airlines and metals driving gains while investment firms, oil, trucking, clothing and drug sectors face weak activity.
MENTIONED IN THIS ARTICLE
Richard Pucci
Ibes Inc
Pucci
John Shaughnessy
Advest Inc
Shaughnessy
IBES
Standard & Poor
Ed Keon
IEES
Keen
Eugene Peroni
Janney
Montgomery Scott
Metz
Lawrence Helfand
Rodman & Renshaw Inc
Helfand
Local Stocks and Market Wrapup Preview
The Journal-World previews the stock market with a note to watch Saturday for the complete market wrapup. It mentions local stocks and a market update heading up a future full report.
MENTIONED IN THIS ARTICLE
Journal-World
Midland Elevator Prices and Omaha Livestock Quotes
Market notes from Midland Elevator show Wheat 3.24, corn 2.41, milo 3.83, soybeans 6.30. Omaha Livestock Market reports hogs lower by 50-1.00, cattle up 1.00-1.50, sows down, and small lots of steers and heifers with mixed gains.
MENTIONED IN THIS ARTICLE
Midland
Omana
Nes
Uspa
Omaha
St. Joseph
St. Joseph, Mo
Foreign exchange rates advisory from Commerce Bank KC
Commerce Bank of Kansas City N A provides interbank exchange rates as of 8 a m today. Retail rates may differ per currency unit. For more information and additional rates call (800) 892 7100.
MENTIONED IN THIS ARTICLE
Commerce Bank of
Kansas City
N.A
U.S
Commerce Bank
Mutual funds slip again in second quarter
Second-quarter results show a broad decline across mutual funds as stocks bonds and the dollar drop. American stock funds lead losses down about 6 percent year to date with a 2.5 percent quarterly drop, while municipal funds gain little and taxable and overseas funds fall. Over $1.5 trillion is invested in stock and bond funds as Americans face a renewed downbeat market tone.
MENTIONED IN THIS ARTICLE
NYSE
U.S
Bank Rate Monitor
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 Money Magazine
Mutual funds face renewed losses as investors pull back
The second quarter saw stock funds drop 2.5 percent and bond funds slide, with gold funds losing 7 percent. Investors pull back, shifting toward money market funds while retirement plan inflows fund stock purchases. Experts advise patience as rates rise.
Fake invoices raise concern and alert from BBB
Local businesses are warned to scrutinize out-of-state advertising invoices after bogus statements circulated. The BBB reports a Beverly Hills invoice for a help wanted ad showing 203.50 with a disclaimer that the bill is a solicitation and payment is not required unless the offer is accepted.
MENTIONED IN THIS ARTICLE
Better Business Bureau
Beverly Hills
Calif
Kansas index still sluggish in May 1994 report
Kansas State University economists report the Kansas Index of Leading Economic Indicators fell again in May, with six of seven components dropping from April levels. Only stock market prices of Kansas companies rose slightly, suggesting a weaker state economy by year end despite no immediate downturn.
MENTIONED IN THIS ARTICLE
Manhattan
Kansas
Kansas State University
KSU
Jarvin Emerson
U.S
Emerson
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