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Averages Retreat as Oil Surges
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| Oil above $55, Costco, Maytag and Kodak disappoint, gold trades up |
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| Lack of conviction drove the markets in negative range and weaker earnings from the consumer sector did not help. Supply worries at refineries in the U.S. and violence in Saudi Arabia managed NY oil to spike up more than a dollar and gasoline by 4%. |
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US Stocks Lose Ground
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| NASDAQ, Bof NY and a private equity group acquire Instinet for $1.88 B , Oil heads to $55 |
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| U.S. stocks fell today after the prior session's biggest one-day gain in two years. The largest U.S. warehouse club operator Costco Wholesale Corp. plunged on a dissatisfactory outlook. Oil prices jumped toward $55 a barrel. |
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U.S. markets open lower
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| Europe and Asia Up, Maytag, Costco and Kodak disappoint, Google expected to open up $15, Semis and techs will be in focus |
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| After Philadelphia Federal Reserve Bank's manufacturing index relieved the worries about a slowdown in the U.S. economy, the dollar flipped its week-long decline to revive from one-month lows against the euro on Thursday. U.S. stocks experienced their biggest one-day rush in 2 years. |
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