Investors pin hopes on rate cut as 2000 sinks
Investors dread a stagnant end to Wall Street's worst year in a decade as a January rate cut looms uncertain. Analysts warn of limited rallies amid deep tech losses and weak earnings outlook, with tax-season January effects and holiday low volume shaping near-term moves.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Richard Dickson
Scott & Stringfellow Inc
Levitt
GAO report warns on US Airways United merger dominance
The GAO says a United US Airways merger could dominate air travel, forcing other majors to merge. United would carry 25 percent of paying passengers and earn $9 billion more than rivals. DC Air, led by Robert Johnson, could be created via US Airways route divestitures to address antitrust concerns. Delta is seen as favored to gain DC Air stake amid bids from American and Continental. The DOJ seeks route divestitures and hub adjustments to curb hub-to-hub dominance.
MENTIONED IN THIS ARTICLE
Washington
US Airways
United Airlines
General Accounting Office
James Oberstar
D-Minn
House Transportation Committee
Louise Slaughter
D-N.y
Rochester
N.Y
United
Justice Department
Anti-Trust Division
DC Air
Reagan Washington National
National
DC Air Plan
Robert Johnson
Delta Air Lines
American
Continental Airlines
Pittsburgh
Philadelphia
Washington, D.C
James Goodwin
UAL Corp
Robert L. Johnson
BET Holdings
I Inc
Stephen Wolf
US Airways Group, Inc
New York
SEC chairman Levitt to step down by mid February
Securities and Exchange Commission chief Arthur Levitt said he will resign by mid February paving the way for a Bush administration successor. He met with Vice President-elect Dick Cheney at transition headquarters in Virginia and noted an acting chair could be named before a permanent replacement is chosen. Levitt led tighter disclosure rules and efforts against conflicts in auditor consulting while opposing managed earnings.
MENTIONED IN THIS ARTICLE
Washington — Securities and Exchange Commission
Arthur Levitt
George W. Bush
Levitt
Clinton
Dick Cheney
Transition
McLean
SEC
Nasdaq hits year low on earnings worries
Pressured by fears of a deep economic slowdown and weak corporate earnings, Wall Street stocks tumbled with the Dow down 265 and the Nasdaq slumping to a yearly low. Analysts blamed Fed inaction on rates, earnings warnings, and ongoing tech loss, while optimism for a January rally appeared fragile.
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New York
Federal Reserve
Fed
A.C. Moore
Dunvegan Associates
Santa Barbara
Calif
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