Fed notes slow activity amid war uncertainty in Beige Book
The Federal Reserve reports subdued January and February activity across regions as consumer and business spending lag due to geopolitical fears. A spike in sales of duct tape and hardware is noted as a terrorism-related blip. Decisions on March rate changes loom.
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Washington
Federal Reserve
Iraq
Fed
Central Bank
Wall Street holds firm as war worries curb gains
Stocks rose modestly on light volume with the Dow up 70.73 to 7775.60 as investors hedge against protracted Iraq conflict. Nasdaq 1314.40 and S&P 500 at 829.85 with traders wary of the economic impact and North Korea tensions. Kohl’s and Staples advance on upbeat profit views.
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New York
Wall Street
Iraq
Keith Keenan
Wall Street Access
U.S
Standard & Poor
U.N
Colin Powell
North Korea
United States
Jeff Kleintop
PNC Financial Services Group
Philadelphia
Institute For Supply Management
Kohl’s
Staples
Dollar falls as Snow remarks spark currency selloff
The dollar declined after Treasury Secretary Snow suggested no troubles with recent declines, triggering a wave of selling that sent the euro to a four year high. Traders noted a softer dollar tone amid Iraq war concerns and a weaker greenback against the Swiss franc, with the dollar dipping to 1.3262 francs.
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New York
Dow Jones
U.S. Treasury
John Snow
Iraq
House
Ways and Means Committee
Snow
Robert Rubin
Treasury
Clinton
Paul O'Neill
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