Dow hits record as inflation numbers ease market rally
Blue chip stocks rise for the fourth straight session as inflation data suggested no surge in prices, lifting the Dow Jones Industrial Average to a record close above 9,200 at 9,211.84. Advancers beat decliners 1,515 to 1,429 on 599 million NYSE shares amid optimism Federal Reserve rates may stay steady. Kmart and Federated report stronger quarterly earnings, with Kmart tripling net income on sales of Sesame Street items. Federated posts 150 percent earnings jump but flags slower growth later.
MENTIONED IN THIS ARTICLE
New York Stock Exchange
Federal Reserve
Kmart Corp
Federated Department Stores Inc
Wall Street
Kmart
Federated
Bloomingdale's
Macy's
Borders profits rise on higher sales in first quarter
Border Group Inc. reported earnings up to 3.8 million dollars in the first quarter, or 5 cents per diluted share, from 400 thousand dollars a year ago. Consolidated sales reached 545.3 million, up 17.6 percent from 463.6 million. Sales rose at Borders chain but declined at Waldenbooks. Borders operates a store in downtown Lawrence.
MENTIONED IN THIS ARTICLE
Border Group Inc
Michigan
Borders
Waldenbooks
Lawrence
Tiny bank to expand in Lawrence with new 4,800 sq ft branch
First State Bank & Trust of Lawrence plans a downtown expansion at Sixth and Vermont and a new office at Sixth Street and Monterey Way. It has contracts to buy about 1.5 acres at the northwest Lawrence intersection to build a 4,800 square foot full service bank with three drive up lanes and an ATM. Construction could begin this fall with opening expected next summer and an estimated cost around 1.2 million dollars. President Vickie Randel notes the bank will be modest and not lavish.
MENTIONED IN THIS ARTICLE
Vickie Randel
Randel
First State Bank & Trust of
Lawrence
First State Bank
Sixth
Vermont
Sixth Street
Monterey Way
Bank
Banking Boom Expands First State Bank in Lawrence Area
First State Bank and Trust, part of Tonganoxie Bancshares, plans a larger Lawrence office at Sixth Street and Monterey Way after leasing adjacent space and removing a wall to expand from 600 to about 2,800 square feet. A second unidentified bank eyeing Sixth and Eldridge is also planned, with Coldwell Banker McGrew Real Estate managing the area development.
MENTIONED IN THIS ARTICLE
First State Bank & Trust
Sixth Street
Lawrence
Sixth and
Eldridge Streets
First State
Monterey Way
Coldwell
McGrew Real Estate
Sealright tax deal under scrutiny in De Soto
De Soto officials question extending a 10 year tax abatement granted to Sealright to the plant’s new owner Huhtamaki as part of a $122 million sale and $80 million debt assumption. Council members cite the agreement’s scope and notification concerns while Sealright seeks continued abatement to finalize the sale.
MENTIONED IN THIS ARTICLE
DeSoto
Sealright Corp
Sealright
Tim Manioz
DeSoto City
Huhtamaki
John Taylor
Taylor
Wholesale prices rise in April amid modest factory costs
Government reports show April prices paid to factories and producers up a slight 0.2 percent after adjustment. Tobacco and lettuce costs jumped, lettuce by 150 percent due to rains in California. Retail sales rose 0.5 percent as Easter and school holidays boosted demand, supporting a view of steady growth without inflation danger.
MENTIONED IN THIS ARTICLE
Washington
el Nifro
California
Oscar Gonzalez
John Hancock Financial Services
Boston
American producer prices ease fears after April rise
The Labor Department reports a small April rise in producer prices driven by special factors, easing inflation fears for Wall Street. Meat costs climbed with beef up 4.7 percent and pork 2.9 percent while vegetables and fruits rose 6.9 percent and 4.7 percent, respectively, amid broader stability signals in U.S. markets.
MENTIONED IN THIS ARTICLE
Labor Department
Commerce Department
Wall Street
Asia
Indonesia
States join battle against Microsoft
Washington AP reports the Justice Department and at least 18 states will file federal antitrust lawsuits today against Microsoft Corp. to curb its dominant Windows software. The action aims to loosen agreements with PC makers, allowing rival browsers and customized Windows versions, with potential court blocking of Windows 98 if no concessions are made.
MENTIONED IN THIS ARTICLE
Washington
Justice Department
Microsoft Corp
Microsoft
Kansas
Source
Mark Murray
Farm and market report with grain and livestock prices
As of Wednesday close Farmer's Cooperative Assn South Elevator Wheat 2.98 soybeans 6.21 milo 3.64 corn 2.25 Midland Elevator Wheat 3.03 soybeans 6.26 milo 3.70 corn 2.30 North Elevator Wheat 3.03 soybeans 6.26 milo 3.70 corn 2.30 Dodge City feedlot sales slow demand light not enough slaughter cattle tested 42,900 head week to date 33,300 previously contracted prices 67-68 bids 65 last sale 66
MENTIONED IN THIS ARTICLE
Farmer's Cooperative Assn
South Elevator
Milo
Midland Elevator
North Elevator
Dodge City
Kansas
Also Mentioned on This Page
Dow Industrials
Nasdaq
S&p
Treasury
Dow
Tiny Bank
Lawrence Bank
Melissa Lacey
Journal-Worth Photos
First State Bank and Trust
Cindy Krueger
Rob Wilson
Minuteman Press
Tonganoxie Bancshares of
Tonganoxie
Tonganoxie Bancshares
Basehor
Clearwater
Richard Brack
Jworld.com
Brack
Ijworld.com
BTR
FMAM
FMA
Grapnic
Wally
Bill Gates
St. Joseph Livestock
St. Joseph H, Mo
Omaha Livestock
Omaha, Neb
Usba
Omaha
U.S
Commoditie
New York
London
N.Y
Handy & Harman
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