Market Watch Summary for December 20, 2004
Dow Jones up 11.68 led by industrials as Nasdaq and S&P 500 show mixed moves. NYSE volume near 1.98 billion shares with 2,001 declines, 1,170 advances, 122 unchanged, and a new low count not specified.
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Newspaper
Middletown Journal
Location
Middletown, Ohio, United States of America
Date
Dec 21, 2004
Page
9
Dow Jones up 11.68 led by industrials as Nasdaq and S&P 500 show mixed moves. NYSE volume near 1.98 billion shares with 2,001 declines, 1,170 advances, 122 unchanged, and a new low count not specified.
Honda of America Manufacturing will start CR V production for the U S market in 2006 at either Marysville or East Liberty Ohio plants, bringing assembly closer to U S buyers. The move reduces overseas exposure while keeping UK plants for European CR V output and diesel development.
Weak holiday sales push merchants toward sharp price cuts in the final days before Christmas. Industry forecasts warn of 3 to 5 percent fourth quarter profit declines amid slow buying, with gift card redemptions and online spending shaping totals. Luxury stores show strength while mid-priced retailers cut prices and extend hours. J C Penney and Sears announce early hours and large discounts as shoppers delay purchases. Gift cards eyeing growth lift season totals. General Growth Properties expects mall gift card sales up 20 to 25 percent.
California Attorney General Bill Lockyer accuses Edward Jones of a 2000 incentive scheme paying brokers commissions test points and vacations to push clients into certain funds. The suit seeks restitution, damages, and up to 25000 fines per violation while noting separate federal Missouri settlement and ongoing regulator talks. Mutual funds named include American Funds Federated Investors Goldman Sachs Hartford Lord Abbott Putnam and Van Kampen.
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