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Major Averages at 1%
Oct 24, 2:20 PM EDT |
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| President Bush will name Ben Bernanke as the next Fed chairman. |
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| In another earnings-dominated session, drug maker Merck posted higher third-quarter profit, despite 2% sales drop, beating estimates. Another drug manufacturer Shering-Plough reported higher Q3 earnings on 15% top line growth. |
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Merck's Profit Up
Oct 24, 10:04 AM EDT |
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| Crude oil dipped below $60 a barrel after Wilma struck Florida, showing mercy to facilities in the Gulf of Mexico. Gold was mixed. The dollar fell. |
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| Asian-Pacific markets finished down ahead of earnings reports with the Nikkei losing 0.7%. European stocks gained ground at mid-day, led by the German DAX 30, up 0.2%. Earnings news dominate again. Drug maker Merck posted higher third-quarter profit, despite 2% sales drop, beating estimates. Another drug manufacturer Shering-Plough reported higher Q3 earnings on 15% top line growth. |
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