Closing Stock Prices Update
Market brief notes closing stock prices with minor fluctuations. Key companies show mixed results amid trading volumes as investors weigh quarterly earnings and economic data.
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Newspaper
Southern Illinoisan
Location
Carbondale, Illinois, United States of America
Date
Jul 26, 2002
Page
5
Market brief notes closing stock prices with minor fluctuations. Key companies show mixed results amid trading volumes as investors weigh quarterly earnings and economic data.
Chicago Board of Trade prices slid across grains with soybeans tumbling on forecasts of continued rain and cooler weather. Corn and oats fell as showers in Western regions eased heat stress, while wheat retreated after soybeans.
Eastern Cornbelt carcass prices closed mostly steady with various inch bf ranges from 0.5 to 0.9. Illinois direct hog purchases totaled 11 933 with steady to light demand for light to moderate offerings across weight classes 300 to 600 pounds and occasional over 600 pounds. Boar prices ranged 20.00 to 25.00 for under 300 pounds and 7.00 to 10.00 for over 300 pounds.
Congress sends sweeping, risk aimed reform to President Bush with penalties for corporate fraud and document shredding. House votes 423-3 and Senate 99-0 as lawmakers promise tough oversight to reassure investors ahead of midterm elections. Bush says he will sign the measure.
Wall Street failed to extend its rally amid a semiconductor slump and an accounting probe into AOL Time Warner. The Dow fell 4.98 points to 8186.31 while the Nasdaq dropped 50.15 to 1240.08 and the S&P 500 slid 4.75 to 838.68. Regulators probe the AOL accounting and traders weigh whether the market has reached a bottom after nine weeks of declines.**
The PBGC reports private pension underfunding reached a record 111 billion dollars for last year, fourfold the 2000 shortfall. Despite warnings from Rep. George Miller, PBGC says funds remain on average well funded as rates and markets fluctuate. The agency paid over 1 billion in benefits to about 269,000 people, the first year payouts surpassed that amount.
Washington reports from AP show June orders for durable goods fell 3.8 percent, the steepest drop in seven months, as cars and computers led the decline. Shipments declined 1.4 percent, fueling economists' fears that market weakness due to stock doldrums is restraining spending and slowing the economic recovery.
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