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Newspaper
Southern Illinoisan
Location
Carbondale, Illinois, United States of America
Date
Jul 10, 2002
Page
5
Chicago futures mixed as hot dry Midwest weather expectations lift soybeans and corn. Wheat dips ahead of crop forecasts while oats and soybeans gain, with September wheat at 3.13, December corn 2.42 1/2, November soybeans 5.17.
Eastern Cornbelt prices hold steady to firm with nudges higher across fat grades as buyers show light demand for lighter offerings. Negotiated Illinois hog purchases reach 15 833 with direct hogs ranging 16.00 to 23.00 for different weight classes. Boar values span 8.00 to 26.00 with most under 300 pounds at 21.00 to 25.00.
New York AP Investors extend declines for a second straight session as worries over second quarter earnings overshadow Bush corporate fraud penalties proposal. Dow drops 178.81 to 9096.09, S&P 500 off 24.15 to 952.83, Nasdaq down 24.49 to 1381.12, Nasdaq down 4.6 percent. Will Braman of John Hancock Funds says investors seek real results.
The Dow Jones Industrial Average closes at 9096.09, up 178.91 points after a session of broad declines. Other major indexes slide with the Standard & Poor’s 500 at 952.83, the Nasdaq Composite at 1381.12, and the Russell 2000 at 429.25, reflecting mixed to negative momentum across the market. Wilshire 5000 shows a value of 8986.74 billion.
Washington AP WorldCom top executives and auditor Arthur Andersen draw heat from lawmakers over nearly 4 billion dollars in accounting improprieties. Former WorldCom leaders refused to testify as Bush backs tougher penalties for financial fraud and Sarbanes pushes stronger accounting oversight.
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