Investors cash in as Wall Street logs big drop on profit-taking
Investors pulled back on Thursday amid renewed profit-taking after a rally, sending major indexes lower for a second straight day. The Dow fell 114.27 to 9179.53, the Nasdaq slid 28.50 to 1648.64, and the S&P 500 dropped 15.39 to 994.70, with the session marking the Dow's biggest single-day loss since May 19.
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Wall Street
Dow
Standard & Poor
S&p
Record low mortgage rates steady near four decades lows
Freddie Mac reports the 30 year fixed rate at 5.21 percent for the week ending June 20, the lowest since 1971, while 15 year fixed rates sit at 4.62 percent and one year ARMs fall to 3.51 percent. Refinancing demand remains strong at 77.3 percent of applications as the housing market stays buoyant.
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Washington
Freddie Mac
Mortgage Bankers Association of America
Trade deficit soars to record 136.1 billion in Q1 2003
The Commerce Department reports a record 136.1 billion current account deficit for January to March 2003, up 5.8 percent from the prior quarter. Bush administration argues for freer foreign markets, critics say deficits show failed free trade and job losses. Wall Street mixed with the Dow down and Nasdaq up in morning trading.
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Commerce Department
United States
U.S
America
Wall Street
Bush promotes tax cuts to spur economy in Minnesota
In Fridley Minnesota President Bush argued the new tax cuts will put wind at our back and lift a lagging economy. He framed the tax package as benefiting many Americans and noted unemployment claims and future activity showing cautious signs of improvement. Democrats hope to label the economy as a vulnerability in next year’s race.
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Bush
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Minnesota
Grain futures mixed as dark early gains fade on CBOT
Chicago grain markets closed mixed after indecisive trading on the Chicago Board of Trade. Wheat slipped marginally while July corn edged higher and soybeans gained a penny with oats down two cents amid thin activity and favorable weather conditions.
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Chicago
Chicago Board of Trade
Stockyards Springfield hog market closes higher amid light offerings
Eastern Cornbelt carcass prices finish 0.75 higher with 0.5 to 0.9 inch bf ranges from 57.50 to 73.96. Illinois direct hog purchases total 18,926 with steady to 1.00 higher bids, demand moderate to good for heavies. 1-3 300-400 lb prices 28.00-31.00, 400-500 lb 28.00-32.00, 500-600 lb 29.00-33.00, over 600 lb 30.00-34.00, few 35.00. boars under 300 lb 25.00-31.00, over 300 lb 6.00-8.00.
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