Stocks fall on weak Home Depot outlook and profits
Wall Street slid amid ambivalence as Home Depot reported weaker fourth quarter earnings and same store sales, triggering profit-taking after a six week rally. Dow fell 11.79 to 8474.78 while Nasdaq dropped 19.19 to 1374.50 and S&P 500 eased to 896.74 amid consumer spending concerns.
MENTIONED IN THIS ARTICLE
Home Depot Outlook
New York
Wall Street
Home Depot
Hugh Johnson
First Albany Corp
Standard & Poor
Dow Industrial Home Depot
Lowe’s
Federal Reserve
Alan Greenspan
Council On Foreign Relations
Stockyards Springfield carcass prices and hog market update
Eastern Cornbelt carcass prices ranged from 34.34 to 44.86 per hundredweight across thicknesses. Today's negotiated purchases total 12 426. Illinois Direct Hogs Laws show a steady trend with light to moderate demand. US 1 3 300 400 Ibs 16 18, 400 500 Ibs 18 20, 500 600 Ibs 19 22, over 600 Ibs 20 23. Boars under 300 Ibs 12 16, mostly 15, over 300 Ibs 4 7.
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Springfield
Illinois
Rules issued mandating auditor independence
The SEC proposed regulations to require independence in accounting and curb conflicts of interest in firms and their audit clients. The rules, due by January 26, require five year client rotations, a five year cooling off, annual fee disclosures, and retention of audit documents for five years, plus limits on nonauditing services.
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Washington
Securities and Exchange Commission
Congress
America
Paul Atkins
Enron Corp
Arthur Andersen LLP
SEC
Harvey Pitt
Soybean Rally Sparks Drop in Chicago Futures
In Chicago grain futures, soybeans led gains on Tuesday on rumors of rising demand for U.S. exports. Wheat, corn, and oats also advanced as traders priced in potential renewed Chinese buying and general demand optimism. December wheat up to 3.85, corn to 2.471/2, oats to 2.03 3/4, January soybeans to 5.73 3/4.
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Chicago
U.S
Chicago Board of Trade
China
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