Market stalls as rate fears hit area livestock auctions
Stocks fell on renewed rate worries with blue chips tumbling and the Dow dropping 583 points to 10 911. Banks and brokerages led losses while bond prices slid for a second straight session as traders priced in higher rates. Sun Microsystems beat earnings and nudged higher alongside Gateway amid tech strength, but overall sentiment remained cautious.
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Market slides pull major indexes down amid earnings week
Stocks retreated as Stoc of his cieaet and other techs fell despite solid earnings from AOL and Microsoft. The Dow faced a tug of war between the Fed and earnings, with American Express due next week. NSE composite, S P 300, and AMEX sessions showed broad declines. Overseas markets mostly lower with Japan, Germany, Britain, and France posting losses.
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Ers
Standard & Poors
Ryland Group posts record second quarter earnings
The Ryland Group Inc reported a record second quarter net earnings of 174 million dollars, doubling the 88 million from the same period in 1998. Pre tax earnings in homebuilding reached 298 million, up 77 percent from 1998, with earnings per share at 1.17 versus 0.38.
MENTIONED IN THIS ARTICLE
Ryland Group Inc
Grains rally as heat fuels crop fears on Chicago Board
Chicago Board of Trade futures jump as 90 degree heat spreads across the Midwest. December corn climbs to a three week high, oats rise, soybeans gain over 25 cents, rainfall forecast unlikely to offset drought losses. Wheat and livestock futures also edge higher on hot conditions and limited moisture.
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