Stocks edge lower after Fed pause leaves markets wary
The Federal Reserve paused rate hikes, sending stocks modestly lower as investors welcomed the pause yet fretted about potential future increases. The central bank noted slowing growth and lingering inflation risks, signaling a possible September move while caution over over-tightening persisted.
Market slides after Fed signals restraint Aug 8 2006
Markets fell after the Federal Reserve kept rates steady, with the Dow down 45.79 to 11,173.59 and the S P 500 off 4.29 to 1,271.48 while the Nasdaq declined 11.65 to 2,060.85. Oil slid to 76.31 a barrel. productivity rose 1.1 percent in Q2, unit labor costs surged 4.2 percent, and Aramark agreed to be taken private in a 6.3 billion deal.
MENTIONED IN THIS ARTICLE
John Wilson
Equity Capital Markets
Morgan Keegan
Fed
Standard & Poor
Treasury
Samuel Bodman
Prudhoe Bay
Alaska
New York Mercantile Exchange
Labor Department
Jonathan Golub
U.S. Equity Group
JP Morgan Asset Management
Aramark Inc
Aramark
Dow Jones
Nasda
Standard
Russell
Stockyards Springfield Carcass Prices and Hog Markets
Eastern Cornbelt carcass prices by thickness range from 60.75 to 75.56 per cwt with shifts across 0.5 to 0.9 inch bf. Today's Illinois Direct Hog purchases show steady to higher bids with 1-3 300-400 lb at 28.00 to 31.00, 400-500 lb at 30.00 to 32.00, 500-600 lb at 31.00 to 33.00, and overweight lines at 33.00 to 35.00 and 37.00 for select lots. Boars under 300 lb fetch 28.00 to 32.00, over 300 lb 12.00 to 15.00.
MENTIONED IN THIS ARTICLE
Springfield
Illinois
Alcoa Inc
Clear Channel
Kinder Morgan Qualcomm
Altria Group Inc
Coke
Kroger
Regions Financial
Ameren
ConAg
Lee Ent
Ryerson Tull
CVS Corp
Lowes
Sears Holding
Applied Materials
Devon
Federated Dept
Southern Co
Archer
Dillard
McDonalds
Southwest
Sun Micro
Avaya Financial Dollar General
Metlife
AXA
DuPont
Microsoft
Super Valu
Baker Hughes
Fifth Third
Mips Technologies
Unova
Bemis
First Data Corp
Nbty Inc
US Bancorp
Bob Evans
Ford Motor Co
Occi
Petrol
USG
Verizon
Boeing BP Amoco
Gen. Dyn. O'charley’s
Gen. Motors Sun
Old Nat, Bane
Walgreens Brunswick
Harley Davidson
Olin
Wal-Mart
Canadian Rail
Harrah's
Pepsi
Watson Pharma
CAT
Intel
Pepsi Americas
Wend
CBRL
Integra
Pfizer
Wachovia Ciena Corp
JC Penney
Pier
Securities, Inc
CIFRA
Jones Soda Co
New York
NYSE
Disney
Nucor
Aescorp
Etrade
Peabdge
AMR
Emccp
At&tinc
Phelpsd
Alcoa
Fordm
Realogy
Alerisint
RentWay
Altria
Revion
AmExp
Gateway
ReynReyn
GenElec
Strude
AmTower
GnMotr
SaraLee
Anadark
Golderp
SchergPh
Seagatet
Aramark
Hewlett P
Selectra
HomeDp
SwstAirs
SprintNex
BakrHu
iShJapan
Itgold
Barrickg
Sysco
BellSouth
Interpublic
TaiwSemi
BestBuy
Jpmorgch
Texinst
Boeing
Johnnn
3McO
BostonSci
TitanMt
CBS
Lsilog
TollBras
UPS
Marathon
UtdRentals
Centex
Masco
Usbancro
ChesEng
UsSteel
Chevron
MedcoHith
UtdTech
CireCity
Uldhith
Citigro
Valeroe
ClearChan
VeraSun
CocaCl
VerizonCm
Coeur
Wachovia
CVRD
WalMart
CompSci
Walara
ConocPhil
WellsFrgo
Corning
WmsCos
Horton
Wyeth
Devone
Xerox
Grain futures edge down as soybeans slip on CBOT
Chicago Board of Trade soybeans decline while overall grain futures finish lower. Wheat for September drops 9 cents to 3.84 a bushel, corn falls 4 cents to 2.35, oats rise 4 cents to 1.81, soybeans slide to 5.62 per bushel. The Associated Press.
MENTIONED IN THIS ARTICLE
Chicago
Chicago Board of Trade
Federal Reserve halts over two years of rate hikes
The Federal Reserve paused its 17 quarter-point rate increases since June 2004, keeping the federal funds rate at 5.25 percent. Bernanke faced a tough choice to hold or raise rates, with one dissenter favoring another increase. Wall Street sold off on the news as growth slows and inflation risks recede.
MENTIONED IN THIS ARTICLE
New York
Federal Reserve
Wall Street
Fed
Washington
Ben Bernanke
Bernanke
Federal Open Market Committee
Victor Li
Villanova School of Business
Federal
Jeffrey Lacker
Federal Reserve Bank of
Richmond
Bernard Baumohl
Economic Outlook Group
Ethan Harris
Lehman Brothers U.S. Economics
Richard Yamarone
Argus Research
Closing Stocks Rally Amid Turbulent NY Markets
New York stocks closed mixed as Disney and AmEx led gains while firms like Nortel and Pfizer showed softer closes. High volume trades featured Dow components such as Exxon, Pfizer, Procter Gamble and IBM peers, with techs like AMD and Cisco showing modest moves and oil plays edging higher.
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BY Michael J. Martinez
THE
Associated Press
Ticketmaster.com
Medicnic
Merck
Merrililyn
Micront
MorgStan
Motorola
Mylantab
Nabors
NatSemi
Newmtm
Newscpa
NobleCorp
Saluki Football
McAndrew
Tailgate
Saluki
Saluki Athletics
Alta
dustvAsk
Tamar
St. Louis
Wilcoairport.com