Us On Top:

Discussion in 'Index Futures' started by bapunagar, Oct 6, 2006.

  1. U.S. stocks rose continuously for a third day, extending the Dow Jones Industrial Average's record-breaking rally, helped by a rebound in energy and commodity companiesAt the close, the Dow was up 0.1%, or 16.08 points, at 11,866.69 – its third consecutive record close. Steelmakers were lifted by acquisition news after India’s Tata the second-biggest steel producer said it was considering making a bid for Anglo-Dutch steel group Corus. US Steel climbed 8.4% to $60.63 & Copper for December delivery climbed 9.45 cents, or 3%, to $3.30 a pound in New York after a three-day, 7.6 % decline
    Federal Reserve Vice Chairman Donald Kohn warned investors not to underestimate the central banks inflation concerns. In a speech yesterday he said that he is more worried about the persistent then slowdown in growth and he also added that not to sell the Fed's concern about inflation short, “he said in response to questions after the address in New York”
    Wal-Mart Stores Inc. shares fell $1.14, or 2.3 percent, to $48.41 and were the biggest drag on the Dow average. Supermarket chain Safeway dipped 4.7% to $28.18. Caterpillar, the biggest maker of earthmoving equipment, raised $2.70, or 4.1%, to $68.24 for the top gain in the Dow average. The company was among 27 stocks highlighted by Merrill Lynch & Co. as one of the factor for a global economic slowdown.