Stocks retreat after strong economy data boosts profit-taking
Wall Street paused for modest profit-taking despite upbeat economic signs. Analysts note rising optimism about a turnaround but caution the rally may not endure. The Dow fell 48.92 to 10,525.37 while the S P 500 and Nasdaq slipped 0.5 percent.
Soybean futures rise on trade agreement signals
Soybean futures on the Chicago Board of Trade advanced on reports of a U.S. China pact related to genetically modified products, with May soybeans up 6 cents to 4.59 1/2. Wheat fell 2 1/4 cents to 2.79 3/4, May corn down 1/2 cent to 2.07 3/4, May oats up 3 cents to 2.10 3/4.
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Chicago
Chicago Board of Trade
U.s.china
Dow Jones Ends Higher as Traders Assess Broad Market
Dow Jones Industrial Average closes at 10,525.37 up 48.92 with Standard & Poor s 500 at 1157.54 down 5.23 and Nasdaq Composite at 1881.63 up 87. NYSE indices show mixed moves with NYSE total volume near 1.87 billion and consolidated issues traded numbering 3,369. Notable decliners include NYSE and Russell 2000 components while the Wilshire 5000 stands at 10,814.77 billion.
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NYSE
Market sentiment hints at profit taking after recent gains
Hilliard Lyons notes no serious market problems and suggests investors may take profits after a few strong days to guard against potential declines.
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Hilliard Lyons
Eastern Cornbelt carcass prices ease in steady trade
In Stockyards Springfield Iowa and Illinois markets prices mostly fall by about one dollar with bids shown for various beef and hog weights. Illinois direct hog purchases total 13 281 with demand moderate to light offerings and 1 to 3 300-400 lb hogs at 28 to 29 dollars, 400-500 lb at 27 to 31, 500-600 lb at 28 to 32, over 600 lb at 31 to 34, boars under 300 lb 22 to 28 and over 300 lb 12 to 17.
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Springfield
Illinois
Greenspan sees recovery under way amid upbeat testimony
Senate hearing featured Alan Greenspan declaring the economy is recovering from a decade‑long recession. He cautioned the rebound would be uneven and moderate, noting consumer spending remains a stabilizing force while suggesting the Fed may pause rate cuts at the March 19 meeting.
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Washington
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Capitol Hill
Fed
Jobless claims dip slightly amid revived recovery signs
The Labor Department reported initial unemployment claims for the week ending March 2 fell by 5,000 to 376,000. The four week moving average dropped to 372,750 the lowest since August, reflecting a tentative revival before the September 11 attacks.
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Washington
Labor Department
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