Closing Stocks Dow Jones Mixed With Broad Activity
New York stocks finish with wide moves across major names. IBM and Exxon show notable activity while tech and consumer firms like Merck, Coca Cola, and Microsoft display varied closes.
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Newspaper
Southern Illinoisan
Location
Carbondale, Illinois, United States of America
Date
Aug 24, 2006
Page
15
New York stocks finish with wide moves across major names. IBM and Exxon show notable activity while tech and consumer firms like Merck, Coca Cola, and Microsoft display varied closes.
Chicago soybeans advance while grains mix on CBOT. Wheat for September climbs to 3.60 per bushel, corn slips to 2.20, oats steady at 1.74. September soybeans rise to 5.49 a bushel amid cautious activity reported by the Associated Press.
Illinois direct hog purchases rise modestly as buyers push steady to higher prices. Carcass values for different weights span 68.00 to 79.68 per hundredweight with small gains noted in some ranges. Boar prices vary from 12.00 to 37.00, while 11 134 head traded under AP coverage.
New York stocks dropped for a third straight session as housing data signaled a slowdown. July existing home sales at 6.33 million—the lowest since January 2004—raised concerns about a softer economy and profits. Investors weigh if the Fed has finished hiking or needs more restraint.
The Dow fell 41.94 to 11,297.90 as prior losses erase a week of gains. The S&P 500 dropped 5.83 to 1,292.99 and Nasdaq slipped 15.36 to 2,134.66. Treasury yields and oil moved, while homebuilder shares eased amid weak housing data.
A New York biotech company reports a method to derive embryonic stem cells by removing a single cell from an early embryo, sparking cautious optimism. Critics say it does not settle ethical objections or boost funding, while supporters call it a potential step forward despite efficiency concerns and ongoing moral debate.
The Wall Street Journal links a possible Ford bid to Nissan chief Carlos Ghosn, boosting Ford shares while GM explores alliances with Renault and Nissan. Analysts note Ford faces severe losses and plant closures, risking control debates with the Ford family.
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