| Market Summary |
The major indices finished slightly higher today, as falling commodities prices and their resulting ease of inflation concerns outweighed some negative earnings news. Oil prices fell once again, but the consistent decline has also begun to raise questions about a possible global economic slowdown. In business news, shares of Dell (DELL: Charts, News, Offers) fell after news that previously mentioned issues with some balance sheet items will delay second quarter results.
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| Market News |
U.S. auto sales have been slipping as domestic automakers have struggled to boost sales amid high gas prices this year -- a trend that will continue into next year, industry executives and analysts said. Industry-wide sales are down more than 4 percent this year as U.S. automakers such as General Motors Corp. (GM: Charts, News, Offers) and Ford Motor Co. (F: Charts, News, Offers) struggle with high labor costs, loss of market share to foreign rivals, and weakening sales of trucks and sport utility vehicles - typically their largest profit generators. (Source: Reuters) Full Story
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A wary OPEC said Monday it will keep pumping crude at current levels, while also making clear it would consider scaling back production if oil prices keep plummeting. The Organization of Petroleum Exporting Countries -- anxious to keep prices already at five-month lows from a free fall -- pledged to "vigilantly monitor" the combination of rising inventories and easing political tensions that have pushed crude down by almost $13 a barrel since midsummer. (Source: Yahoo Finance) Full Story
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Freescale Semiconductor is close to a deal to be taken private in a $16 billion leveraged buyout that would be the largest ever in the nation's technology sector, news reports said Monday. The New York Times reported that Freescale Semiconductor (FSL: Charts, News, Offers), a former unit of Motorola, was in talks late Sunday to be acquired by a group of investment firms including Texas Pacific Group, Blackstone Group and Permira. (Source: CNNMoney) Full Story
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| Market Analysis |
Few Americans are likely to forget where they were on Sept. 11, 2001, especially if they were in Manhattan. The terrorist attacks that came out of the clear blue sky that morning shook a nation to its psychological and financial core. Investors have managed to move on, but they're not forgetting, either. (Source: BusinessWeek) Full Story
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The painful human costs of the 9/11 attacks are on our minds today as we mark the fifth anniversary of that terrible day. There were economic costs as well. What would the world economy look like if Sept. 11 never happened? The attacks changed it in two distinct ways. (Source: Bloomberg) Full Story
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Yahoo! (YHOO: Charts, News, Offers), Time Warner's (TWX: Charts, News, Offers) AOL and Microsoft's (MSFT: Charts, News, Offers) MSN probably don't have to worry about YouTube's surging popularity quite yet. Though the video-sharing site is gaining huge numbers of users, advertisers are still leery about associating themselves with YouTube's content, which can be racy, weird or of poor quality. (Source: TheStreet) Full Story
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