Market watch snapshot April 21 2005
Market watch shows overall gains with 2,424 new highs and 871 declines. Nasdaq diary reports advance totals of 2,229 with 831 declines and 138 unchanged, alongside volume indicators and new highs and lows counts for the session.
Portman Tangles with China Reform as Trade Nominee
Sen. Portman faces hurdles to confirmation as U S trade representative. He pledges to review China trade issues and curb the 162 billion deficit, while Sen. Bayh blocks a full Senate vote until a China trade bill passes. At his hearing, Portman defended tough action and urged currency liberalization in China to open markets.
MENTIONED IN THIS ARTICLE
Washington
Rob Portman
Cincinnati
U.S
China
United States
Portman
Senate Finance Committee
Evan Bayh
D-Ind
Senate
Bayh
Bush
Congress
Finance Committee
Charles Grassley
Iowa
Max Baucus
Montana
Canada
Charles Schumer
D-N.y
Treasury Department
Stocks rebound as NYSE Archipelago merger shocks market
Stocks surged with the Dow up 206 points and Nasdaq and S&P gains led by Nokia and Motorola earnings. Archipelago merger news sent NYSE into a for profit, publicly traded entity, while Treasuries fell and the dollar rose amid mixed macro signals and a softer labor picture.
MENTIONED IN THIS ARTICLE
New York
Nokia Corp
Motorola Inc
New York Stock Exchange
Electronic
Archipelago Inc
Wall Street
Matt Kelman
Kelmoore Strategy Funds
Dow
Standard & Poor
New York Mercantile Exchange
Jay Suskind
Ryan Beck & Co
S&p
Altria Group Inc
Walt Disney Co
Microsoft Corp
Archipelago
Pacific Stock Exchange
NYSE
Greenspan flags deficits threat amid Iraq funding push
Federal Reserve Chair Alan Greenspan warned Congress that bloated deficits risk stagnating the economy. House moves toward energy industry tax breaks while an $81 billion request to fund Iraq and Afghanistan operations advances in the Senate. Budget balance deteriorates from a 2000 surplus to projected $427 billion deficit this year. Deficits are expected to exceed $200 billion annually over the next five years, with baby boom retirements adding to shortfalls. Higher borrowing costs could dampen spending and investment.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Alan Greenspan
Congress
U.S
Iraq
Afghanistan
Greenspan
Ate
House
Senate
Bush
Time Warner and Comcast seal Adelphia takeover deal
Time Warner Inc and Comcast Corp agree to jointly buy Adelphia Communications with 5.3 million cable subscribers in a 17.6 billion cash and stock deal. Adelphia exits bankruptcy amid Rigases fraud scandal. Time Warner will spin out its cable unit to public shareholders while keeping control of the business.
MENTIONED IN THIS ARTICLE
Adelphia
Adelphia Communications Corp
Berlin
Time Warner Inc
Comcast Corp
Time Warner
Comcast
New York
AOL
Rigases
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