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Newspaper
Odessa American
Location
Odessa, Texas, United States of America
Date
Mar 25, 2005
Page
4
Oil prices climb over a dollar as traders weigh the blast at America's third-largest refinery. Analysts see limited supply impact but acknowledge psychological effects and a tighter refining industry. May crude futures gain as the dollar strengthens and U.S. inventories shift.
Industry experts say rising mortgage rates will slow sales but not derail a housing market that has shown resilience through the 2001 recession and recovery. All of 2005 is expected to be the second best year on record as rates rise gradually. Previous home sales fell 0.4 percent in February while new home sales jumped 9.4 percent, the largest gain since 2000.
Kmart Holding Corp completes its 12.3 billion acquisition of Sears Roebuck and Co creating Sears Holdings Corp the third largest U.S. retailer. Shareholders approve at Sears Chicago headquarters and Lampert signals plan to preserve stores and not sell Lands End despite market speculation.
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