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Markets Decline Worldwide
Aug 23, 4:44 PM ET |
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| Oil above $66 for the most of day and housing sector declines. Toro, Pier 1, Burlington Coat Factory, and Williams Sonoma disappoint market. |
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| Stocks declined. Existing home sales declined. The July existing home sales were estimated 2.6% lower to 7.16 million from revised 7.35 million in June. The median existing-home price across all housing categories was $218,000, 14% higher than a year ago. Wachovia is exploring a deal to acquire WFS Financial. A joint venture between GE and Rolls-Royce has won a $2.47 billion contract to develop an engine for stealth jet fighter. |
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Declining Averages
Aug 23, 12:57 AM ET |
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| Google to release instant messenger Wednesday, Toro disappoints investors for the second quarter in a row. |
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| Stocks declined at mid-day due to falling existing home sales and volatile oil prices. The July existing home sales were estimated 2.6% lower to 7.16 million from revised 7.35 million in June. The median existing-home price across all housing categories was $218,000. Wachovia is exploring a deal to acquire WFS Financial. A joint venture between GE and Rolls-Royce has won a $2.47 billion contract to develop an engine for stealth jet fighter. |
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Lackluster Opening
Aug 23, 10:55 AM ET |
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| Williams-Sonoma's 2Q profit climbed 12%, Toro posted a 3Q profit of 74 cents per share vs. views of 69 cents, sees full-year sales growth at 9%-11%. |
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| Stocks opened near the flat line as oil advanced toward $66 and the M&A development news wasn’t enough to preserve traders’ optimism. The July existing home sales were estimated 2.6% lower to 7.16 million from revised 7.35 million in June. The median existing-home price across all housing categories was $218,000. Wachovia is exploring a deal to acquire WFS Financial. A joint venture between GE and Rolls-Royce has won a $2.47 billion contract to develop an engine for stealth jet fighter. |
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Market Awaits Oil Report
Aug 23, 7:57 AM ET |
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| Asian markets closed mixed, European markets were lower, the dollar rose vs. the yen but lost ground vs. the euro, oil edges further above $65. |
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| Futures were weaker Tuesday morning, pointing to a lower opening for stocks as climbing oil and the news of a possible acquisition by Wachovia Corp. attracted the most attention. Investors are expecting existing home sales report at 10:00 a.m., which is seen rising for July. The Nikkei fell after hitting an intra-day high. |
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