Fed expected to hold rates as unemployment peaks
Washington AP reports economists expect the Federal Reserve to keep rates unchanged this week amid unemployment at about 6 percent, with a slowing recovery and weak earnings weighing on markets. Analysts foresee gradual rate increases not before late summer as inflation risk remains contained.
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Washington
Federal Reserve
Fed
America
Wall Street
Ludf
Sung Won Sohn
FOMC
Gus Tang
Ing
Freddie Freed Te Ee Oeies
Biot Sa
Case against Andersen opens in Enron probe trial
In Houston AP reporting, Arthur Andersen LLP goes to trial for obstructing justice over Enron related document shredding. Following jury selection opening statements were expected today as the three week case unfolds with former Andersen partner David Duncan as a key witness and potential immunity for others.
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Houston
Enron Corp
Arthur Andersen LLP
Enron
Andersen
Thatman
David Duncan
Duncan
Securities and Exchange Commission
Tupic
Arthur Andersen
Market Falls Push Dow to Lowest Close in Months
Wall Street slipped as investors dumped shares amid rising concerns about earnings and high valuations. The Dow fell 198.59 to 9808.04, the Nasdaq 34.58 to 1578.48, and the S&P 500 dropped 20.76 to 1052.67 amid anticipation of a Federal Reserve rate decision.
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New York
Wall Street
Dow
Gary Kaltbaum
Edge Partners
Orlando
Standard & Poor
Federal Reserve Open Markets Committee
Fed
Earth-Link
Mike McQuary
Cisco Systems
Oracle
Goldman Sachs
Dollar direction mixed as yen gains limit euro impact
The dollar recouped some ground against the yen while closing near flat versus the euro in New York. The euro briefly tested 92 cents before retreating to 91.67, and the dollar traded around 127.30 yen. Analysts say the market lacks a clear direction amid thin trading and upcoming productivity data. Investors sold stocks as earnings remained weak and outlooks dim, with tech leading a broad decline. Dow components like Hewlett-Packard rose on merger news, while others fell on cautious sentiment.
MENTIONED IN THIS ARTICLE
New York
Dow Jones/AP
London
Tokyo
Cowen
Merrill Lynch
Blue Chips
Caterpillar
Exxon Mobil
Home Depot
Dow Industrial Hewlett-Packard
Compaq Computer
Wall Street
Richard A. Dickson
Hilliard Lyons
Louisville
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Wells Fargo
Minneapolis
Central Bank
Federal Open Market Committee
Ore Andersen
Rusty Hardin
Pickocc.org
Ohio
Consumers’ Counsel
CNP
Ete
Ieee Heise Ee
CS Ucc
Dollarbank.com
Nen Oo
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