Dow gains as tech slumps on Dell warning
U S stocks rose with the Dow Jones up 88.7 to 10 2049 while the S P 500 eased and Nasdaq fell after Dell warned of higher memory costs. American Express and Bank of America rose amid rate optimism. Dell, Intel, and Micron led tech declines. World Wrestling Federation and Martha Stewart Living Omnimedia priced, NYSE volume near 904 million. Overseas markets mixed with Japan down slightly and Europe higher.
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Scott & Stringfellow Inc
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Intel
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World Wrestling Federation Entertainment Inc
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Germany
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France
Wheat futures rise as oats soybean and corn dip
Wheat futures closed higher on the Chicago Board of Trade amid dry weather forecasts for the southern Plains and Pacific Northwest. Corn and soybean futures moved lower on harvest progress and rain forecasts in Brazil, while livestock prices were mostly higher with live cattle and feeder cattle advancing and lean hogs edging up.
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Short-term T-bills rise as Treasury sells more notes
The Treasury sold 9 billion in three month bills at 4.990 percent, up from 4.780 last week. An additional 8 billion was sold in six month bills at 5.000 percent, up from 4.930. The Fed reported the one year Treasury yield at 5.42 percent, up from 5.34 last week.
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