Stocks Dip as Economic Worries Surface in Market
Wall Street slid as signs of a slowing economy weighed on major indexes. The Dow fell 138.85 to 14,700 and the S P 500 dropped 14.87 to 1 582.70 amid weak hiring data and lower factory activity. Merck tumbled after lowering its profit outlook.
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Oil prices slide on weak data and rising supplies
Oil fell about 2.6 percent to 91.03 a barrel after disappointing U.S. and Chinese manufacturing data and a 6.7 million barrel weekly inventory buildup. U.S. crude production reached 7.3 million bpd while imports rose, as the Fed signaled rates stay low until unemployment improves.
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Pickups Spur April Auto Sales Rise in U S
Detroit led April U S auto sales as demand for full size pickups boosted totals. Ford GM and Chrysler sold 144 042 pickups up 29 percent from April last year, with overall sales about 1.3 million and Toyota slipping about 1 percent amid tougher competition.
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Kelley Blue Book
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McFrederick
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