Stocks End Higher as Oil Worries Loom
The market rose with the Dow at 10,117.62 up 1.6 percent and the Nasdaq at 1,964.65 up 2.2 percent. Analysts cited consumer confidence easing inflation fears and potential profits, while oil prices and Bush's Iraq speech weighed on sentiment. Heinz posted quarterly profits near doubling to 196.5 million yet fell on concerns over a weak dollar.
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Consumer confidence steady as May data shown for April
The Conference Board report finds May confidence roughly flat from April with the index near 94, a tad below analysts' 94 forecast. Lynn Franco notes optimism about short term prospects despite higher gas prices and tension overseas, while job gains offset some price worries.
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