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Newspaper
Odessa American
Location
Odessa, Texas, United States of America
Date
May 26, 2004
Page
8
New York stocks rose led by blue chips with the Dow up 159.19 to 10117.62 and the S&P 500 at 1113.05 as oil prices fell sharply. Traders cited signs of a stabilizing economy and choppy reactions to Bush’s Iraq speech amid mixed corporate results including Heinz quarterly profit near double prior year.
The Conference Board reports May consumer confidence near 94 with April’s figures close behind. Lynn Franco notes job gains in March and April bolster views of current conditions, though gasoline prices, higher rates, and Iraq news create mixed signals about short term prospects. Naroff observes divergent consumer mood as some feel relief while others remain uneasy.
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