New York stocks slip as Dow dips below 805
The New York Stock Exchange faced a downturn in early trading with the Dow Jones average down 2.46 to 804.75. Analysts cited higher interest rates and weak wholesale price data as factors. volume at mid-day reached about 9.42 million shares as losses outpaced gains on major issues like Coca Cola and Xerox.
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Belott
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Ruesay
New York Stock Exchange
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Gisele Ohawad
Dow Jones
Southern Co
Xerox Corp
Citicorp
Coca Cola
Es International Business Machines
American Stock Exchange
Houstons & Minerals
WSO
Wells Fargo reverses stance on prime rate hike
Wells Fargo Bank reversed its stance and said it would raise its prime rate from 7.50 to 7.75 percent, joining Bank of America and Citibank in the latest tightening. Executives argued higher rates reflect costs from the Fed and funding sources, while preparing to watch indicators closely.
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Fargo Bank
Fleld
Bank of America
Lena Jupiter
Citibank of
New York
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Federal Reserve System
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Curt Ph Lee
Sho Surrens
Ricki Opie
Wells Fargo