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Newspaper
Southern Illinoisan
Location
Carbondale, Illinois, United States of America
Date
Jun 28, 2002
Page
5
New York AP reports Thursday stock activity with IBM listed among most active. Interpublic, JPMorgan, Apple and many other firms show varied highs, lows and closes across sectors, including technology, finance, consumer goods, and energy, reflecting broad market movement.
Wheat futures spiked on the Chicago Board of Trade with heavy funds buying pushing July wheat to 3.06 1/2, largest since last year. Soybeans and corn followed higher amid strong world demand and weather fears in the soybean belt. Oats and other grains also gained as weekly export sales buoyed prices.
Eastern Cornbelt carcass prices ease generally one dollar, with 0.5 to 0.9 inch backfat ranges from 45.50 to 61.76 dollars. Illinois direct hog purchases show lower quotes amid light to moderate demand, with 1 to 600 lb classes fetching 17.00 to 23.00 dollars and boars mainly 8.00 to 28.00 dollars, depending on weight.
The Dow rose over 140 points as optimism on the economy boosted stocks. Rumors of GM bookkeeping irregularities faded, and markets recovered after WorldComs $3.8 billion expense misclassification blamed for recent weakness. Dow up 149.81 at 9,269.92. broader indexes also gained.
Three former NatWest bankers Gary Mulgrew Giles Darby and David Bermingham were charged in Houston with wire fraud over a 7.3 million alleged Enron related scheme. The complaint alleges secret investments in Southampton LP enabled siphoning NatWest income and improper deals with Enron executives.
PricewaterhouseCoopers LLP agrees to pay the Internal Revenue Service an undisclosed sum and cooperate on tax shelter crackdown. The firm will provide shelter client information and help register shelters and maintain investor lists as part of the agreement dating back to 1995.
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