Wall Street Declines Amid Broad Stock Slide
New York AP market wrap shows Hondlind placeholders and IBM figures. Trading closes with notable activity in AMR, AOL TW, JPMorganCh, and Dow components as investors weigh highs and lows across the NYSE.
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Newspaper
Southern Illinoisan
Location
Carbondale, Illinois, United States of America
Date
Apr 11, 2003
Page
5
New York AP market wrap shows Hondlind placeholders and IBM figures. Trading closes with notable activity in AMR, AOL TW, JPMorganCh, and Dow components as investors weigh highs and lows across the NYSE.
Investors sent U.S. stocks higher after two days of losses as focus moved from the war in Iraq to first quarter profits. The Dow rose 23.39 to 8221.33, the Nasdaq gained 8.87 to 1365.61, and the S&P 500 added 5.59 to 871.58 while earnings expectations drive future moves.
Profit taking and technical selling pushed grain and soybean futures lower on Thursday at the Chicago Board of Trade. May wheat dropped to 2.85. May corn to 2.38. May oats to 1.86. May soybeans to 6.01 a bushel.
Eastern Cornbelt carcass prices closed steady to firm with various bf weights quoted. Illinois direct hog purchases total 16,661 with prices rising 1.00-2.00 higher as demand remains light. 1-3 300-400 lbs 20.00-24.00, 400-500 lbs 22.00-25.00, 500-600 lbs 24.00-28.00, over 600 lbs 27.00-30.00. Boars under 300 lbs 18.00-22.00, over 300 lbs 4.00-6.00.
March sales from major retailers disappointed as shoppers held back. New unemployment claims fell to 405,000 but remained high, indicating a sluggish job market. The trade deficit narrowed yet remained the third highest on record. Dow edged up 23.39 to 8,221.33 as analysts warn of a slow recovery.
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