Stocks rise on strong production data and sentiment
The market gained as industrial production reached its strongest level since June 2000 and a consumer sentiment survey showed steady confidence. Analysts cautioned that gains require robust earnings, with experts like Nick Sargen saying first-quarter results must improve for sustained upside. The Dow closed up 90.09 points at 10,607.23.
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New York
Wall Street
Nick Sargen
J.P. Morgan
Dow Jones
Soybeans lead sixth straight weekly gain on CBOT
Grain futures mixed overall with soybeans rising for a sixth week on the Chicago Board of Trade. Traders cite seasonal trends as soybeans climb toward a $5 target while corn weakens on poor export outlook and wheat posts a modest May gain to 2.82 per bushel. May corn drops to 2.05, oats down 2 cents, soybeans up 80 cents to 4.72 a bushel.
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Chicago
Chicago Board of Trade
Dow Jones Closes Higher On Broad Market Rally
Dow Jones finishes at 10,607.23 up 90.09 with gains across main indexes. Standard & Poor’s 500 at 1166.16, Nasdaq Composite 1868.30, NYSE 607.13, Wilshire 5000 near 10.9 trillion priced at 115.11. Volume across NYSE shows 1.49 billion total, with 1,871 gainers and 1,276 decliners and 177 unchanged.
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Lowes Apple
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SIPC
Market indexes end week with mixed gains on Friday
The Standard & Poor's 500 index closed up 13.12 points or 1.1 percent at 1,166.16, adding a 0.2 percent weekly gain. The Nasdaq composite rose 14.16 points or 0.8 percent to 1,868.30, but still slipped 3.2 percent for the week.
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Standard & Poor
Eastern Cornbelt carcass prices steady at Stockyards Springfield
Eastern Cornbelt carcass prices mostly steady with varied prices by inch below 0.9 inch bf. Today's Illinois Direct Hogs purchases total 11,672 with light demand and mostly steady to slightly lower on lighter weights. Boars show under 300 lb at 22.00-27.00 and over 300 lb at 12.00-16.00, mostly 15.00.
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Springfield
Illinois
Government bars Enron and Andersen from contracts
The General Services Administration suspended Enron and its former auditor Arthur Andersen from new federal contracts citing misconduct after Andersen was indicted for obstruction of justice. Current contracts remain unaffected. Enron and Andersen face ongoing fallout as major clients withdraw and the firm faces potential loss of credibility.
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Washington
Enron
Arthur Andersen
Andersen
General Services Administration
GSA
White House
Congress
Sara Lee Corp
Northeast Utilities
Brunswick Corp
Andersen's client exodus accelerates after indictment
Four Fortune 500 firms including Sara Lee Corp and Abbott Laboratories severed ties with Arthur Andersen LLP after the indictment. The departures, totaling more than 15 million in 2001 auditing fees from the four, signal a potential collapse of the firm as experts warn a wider client flight may follow.
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Chicago
Arthur Andersen LLP
Sara Lee Corp
Abbott Laboratories Inc
Northeast Utilities
Brunswick Corp
Andersen
Arthur Andersen
Itzhak Sharav
Columbia University
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