Local Stocks Edge Higher In A Bumpy Session
Stocks show mixed gains with modest climbs in early trading as the market digests earnings and inflation signals. Key indexes move within narrow ranges while tech names lead small cap advances.
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Newspaper
Southern Illinoisan
Location
Carbondale, Illinois, United States of America
Date
Oct 10, 2002
Page
15
Stocks show mixed gains with modest climbs in early trading as the market digests earnings and inflation signals. Key indexes move within narrow ranges while tech names lead small cap advances.
Eastern Cornbelt carcass prices closed mostly steady at Springfield stockyards with 0.5 to 0.9 inch backfat ranges from 40.50 to 46.17. Today's negotiated purchases totaled 16 891 head, with steers and heifers mainly 16.00 to 22.00 per 100 pounds across weight classes and boars trading 4.00 to 20.00, including some 24.00 entries.
On Wednesday at the Chicago Board of Trade wheat for December declined 9.12 cents to $3.72 a bushel, December corn dropped 1.5 cents to $2.56, and November soybeans slipped 11.5 cents to $5.28 a bushel.
Wall Street shares tumble on bearish broker reports hitting GE and GM. Dow Jones falls 215.22 points or 2.9 percent to 7286.27, its lowest close since October 27, 1997, amid ongoing earnings disappointments and downgrades.
Dow Jones Industrial Average finishes at 7,286.27 up 215.22 as Standard and Poor s 500 eases to 776.76, NYSE Index slips to 421.09 and Nasdaq Composite dips to 1,114.11. Wilshire 5000 rests at 7,342.84 with total consolidated volume near 2.24 billion shares and 3,39 issues traded.
The FCC fined SBC Communications six million dollars for breaching the 1999 merger with Ameritech. Regulators found SBC restricted carriers in five states Wisconsin Illinois Indiana Ohio and Michigan from accessing its network for local toll calls on favorable terms. SBC contests the ruling as misinterpretation of the merger condition.
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