11/16/05:
Inflation Indicators Show Positive Signs
SUSIE GHARIB: Inflation appears to be back under
control. That was the message today from the Labor Department, which
reported a slight rise in its October consumer price index. It`s a big
relief to consumers who saw overall prices in September post their biggest
monthly jump in 25 years. Scott Gurvey reports.
SCOTT GURVEY, NIGHTLY BUSINESS REPORT CORRESPONDENT: The good news is
that the pace of price increases at the consumer level is slowing, although
the trend is still up. The consumer price index rose 2/10 of 1 percent in
October after a 1.2 percent jump in September. The so-called core rate,
excluding food and energy, also rose 2/10 of 1 percent after a 1/10 of 1
percent increase in each of the five preceding months. A 2/10 of 1 percent
drop in energy prices after three months of sharp gains helped contribute
to the slower overall inflation rate. Expectations are for an even bigger
decline next month.
JOSHUA FEINMAN, CHIEF ECONOMIST, DEUTSCHE ASSET MGMT: I think we sort
of stay in a fairly narrow band in terms of underlying inflation -- the
core rate of the CPI staying sort of 2 percent, a little over 2 percent. I
think the headline rate of inflation, though, is likely to come down in
coming months, largely reflecting the unwinding of the sharp spike in
energy prices.
GURVEY: While today`s CPI report came in a little higher than Wall
Street expected, economists say it is still within an acceptable range.
There are some troublesome signs, though. Some companies, notably Kraft
Foods and Kimberly-Clark, have announced price increases they are blaming
on higher transportation costs. But investors trying to handicap future
interest rate moves by the Federal Reserve are being told to expect more of
the same in terms of interest rate hikes in the near term.
IAN MORRIS, CHIEF US ECONOMIST, HSBC SECURITIES: Inflation
expectations are under control and the Fed wants to keep it that way and
one way to try to keep it that way is to make sure monetary policy is set
at a proper point given where the economy is. And right now, with the
unemployment rate at 5 percent, we may be near full employment, so the
Fed`s probably going to keep raising rates as long as growth stays very
strong.
GURVEY: The final Fed meeting of the year is set for December 13.
Another quarter point rate hike at that meeting will bring the Fed funds
rate to 4 1/4 percent. Scott Gurvey, NIGHTLY BUSINESS REPORT, New York.
Nightly
Business Report transcripts are available on-line post broadcast.
The program is transcribed by eMediaMillWorks. Updates may
be posted at a later date. The views of our guests and commentators
are their own and do not necessarily represent the views of
Community Television Foundation of South Florida, Inc. Nightly
Business Report, or WPBT. Information presented on Nightly
Business Report is not and should not be considered as investment
advice. Copyright
(c) 2005 Community Television Foundation of South Florida,
Inc. ALL RIGHTS RESERVED. Terms of use.
11/16/05:
One On One With Arch Coal CEO Steven Leer
SUSIE GHARIB: While oil prices have been coming down over the past few
months, coal prices have been rising. So far this year, coal prices have
more than doubled. Now a big beneficiary is Arch Coal, the nation`s second
largest coal company and joining us now to talk more about the outlook,
Arch Coal CEO Steven Leer. Mr. Leer, welcome to NIGHTLY BUSINESS REPORT.
A pleasure to have you.
STEVEN LEER, PRESIDENT & CEO, ARCH COAL: It`s great to be here,
Susie. Thank you.
GHARIB: Well, it`s been pretty amazing what`s been going on with
coal prices this year. What is the outlook? Do you think these high prices
are sustainable into 2006?
LEER: Well we do. We`ve been selling a lot of our coal forward, of
course. It`s traditional in our business that you sell one, two, three
years out and we`ve seen a very robust market. And as we look at the
economy and I think even some of the reports today, the economy has been
strong and continues to be strong. And coal is used to generate 50 percent
plus of the nation`s electricity, so a strong economy means strong demand
for our product.
GHARIB: And we have seen a lot of the electric utility companies
recently stepping up their purchases of coal to counter high oil prices,
high natural gas prices. Can you meet the demand?
LEER: Well, we`ve been challenged. It`s been a robust market from
a producer-selling perspective. We`ve had some trouble in getting all of
our coal shipped on some of the railroads and the demand has been really
very strong in the last two to three years and continues to be very strong
today. So, we think that it will press us but we can do it. And certainly
Arch Coal is meeting all of its customer commitments.
GHARIB: And how do you see the future demand? Do you see more
utility companies building capacity that would be coal-fired? Is that the
next wave?
LEER: Yes. There`s a couple things that are happening out there.
If you think about how electricity is generated in the United States and as
the economy grows, we add 2-3 percent of the electric growth each and every
year. And right now coal supply is around 51-52 percent. Natural gas is
about 16 percent. Nuclear is about 20 percent. And then you have hydro at
about 8 and oil`s about 3 and what is happening is the price or the
availability or the inability to build new hydroelectric dams or new
nuclear plants is really causing the coal plans of the utilities to expand
dramatically, much different than, say, five years ago. So you`re seeing
hundreds of thousands of megawatts of coal-fired power starting to be
announced, planned and under construction right now.
GHARIB: Now I understand that most of Arch Coal`s business is you
mine and you sell predominantly in the United States. Do you have any
international plans of expansion?
LEER: Well, we`re always looking. And one of the things that we`ve
often said to the financial community is that three years out, we think we
might look at some international opportunities. But it`s been such a
robust market and there`s been so many opportunities here domestically that
it seems like every three years it`s still three years out. Having said
that, we do export coal and particularly some of our metallurgical coals
around the world.
GHARIB: I would like to wrap up talking to you about your stock of
Arch. It has doubled this year. I`m just wondering though that as oil
prices and gas prices come down, what impact is that going to have on your
stock?
LEER: Well, you know, you always ride a little bit of the coat
tails of the entire energy sector, but the reality of it is that we consume
a lot of oil, petroleum products in the mining process, so a bit lower oil
pricing probably helps us on the cost side. Natural gas we do compete
directly with in electric generation market. But gas is so expensive that
even with the doubling of the coal price in the last year and gas selling
at $10-$11 per NCF (ph), it`s four or five times more expensive for natural
gas generation.
GHARIB: All right. Well, we`re going to have to leave it there.
Thank you so much for coming by to talk to us.
LEER: Well, thank you very much.
GHARIB: We`ve been speaking with Steven Leer, CEO of Arch Coal.
Nightly
Business Report transcripts are available on-line post broadcast.
The program is transcribed by eMediaMillWorks. Updates may
be posted at a later date. The views of our guests and commentators
are their own and do not necessarily represent the views of
Community Television Foundation of South Florida, Inc. Nightly
Business Report, or WPBT. Information presented on Nightly
Business Report is not and should not be considered as investment
advice. Copyright (c) 2005 Community Television Foundation
of South Florida, Inc. ALL RIGHTS RESERVED. Terms of use.
11/16/05: Congress Acts On The Pension Nation's Problems
PAUL KANGAS: Two steps forward today for Northwest Airlines. Its
transport workers union ratified a long-term labor deal saving the carrier
$1.5 million a year. Also, a bankruptcy court judge OK`d temporary pay
cuts for Northwest`s machinists` union, including an involuntary pay cut of
19 percent for ground workers. Meanwhile, Delta Airlines squared off
against its pilots in bankruptcy court today, asking a judge to dump the
union`s contract. The pilots then asked the judge to step down because she
once said that the pilots are overpaid.
She refused saying that comment was misinterpreted.
Well, those airline bankruptcy and others are straining the
resources of the Federal agency that protects pensions. The Pension
Benefit Guarantee Corporation is billions of dollars in the red, and that
deficit is growing. As Stephanie Dhue reports, the Senate today passed a
plan to fix it and help the airlines as well.
STEPHANIE DHUE, NIGHTLY BUSINESS REPORT CORRESPONDENT: Broken
pension promises and huge debt at the Pension Benefit Guaranty Corporation
are driving lawmakers to change the pension laws.
SEN. CHARLES GRASSLEY, CHAIRMAN, SENATE FINANCE COMMITTEE: Because
I do not want another savings and loan situation like we had in the late
`80s coming out bad policy of the PBGC.
DHUE: The PBGC pays out some or all of employee pensions when
companies default. It`s running a $23 billion deficit. The bill would
require companies with defined benefit plans to set aside more money for
retirees and pay higher premiums to the PBGC. Companies would have seven
years to fully fund their pension plans. But there`s an exception for the
airlines, giving them 20 years more, for a total of 27, to fund their
plans. Supporters of that exception say the airlines can`t afford to fully
fund their pensions sooner.
SEN. NORM COLEMAN, (R) MINNESOTA: This would be like telling
homeowners with 30-year mortgages that if the value of their homes drop by
80 percent of the purchase price for whatever reason, their loan will be
accelerated, that the balance would become due in just three to five years.
DHUE: The White House opposes the airline exception and has
threatened a veto if the bill isn`t strengthened. The PBGC says the
proposal will actually make its deficit worse in the short term. Analysts
say longer term deficits will depend on the airlines.
DOUG ELLIOTT, CENTER ON FEDERAL FINANCIAL INSTITUTIONS: If this is
enough relief to avoid future bankruptcies, everybody wins; if it`s not
enough, PBGC loses.
DHUE: The House must still pass its version of pension reform,
which doesn`t include an airline exemption. The differences will be worked
out in conference. Analysts say the odds are good that Congress passes
reform by early next year that includes some type of break for the
airlines. Stephanie Dhue, NIGHTLY BUSINESS REPORT, Washington.
Nightly
Business Report transcripts are available on-line post broadcast.
The program is transcribed by eMediaMillWorks. Updates may
be posted at a later date. The views of our guests and commentators
are their own and do not necessarily represent the views of
Community Television Foundation of South Florida, Inc. Nightly
Business Report, or WPBT. Information presented on Nightly
Business Report is not and should not be considered as investment
advice. Copyright (c) 2005 Community Television Foundation
of South Florida, Inc. ALL RIGHTS RESERVED. Terms of use.
11/16/05: "Las Vegas on a Roll,"-Part 5: The Thirst For Water
SUSIE GHARIB:Las Vegas may have an excess of economic growth, but
it has a scarcity of water. Built in the middle of the Mojave Desert, the
city`s growth is outstripping its primary water supply, the Colorado River.
As we continue our series, "Las Vegas on a Roll," Jeff Yastine reports that
the region is hoping conservation and alternative water supplies will fill
the gap, even as the region`s subdivisions continue to expand.
YASTINE: Just 60 miles northeast of Las Vegas, this desert valley
known as Coyote Springs is about as far as you can get from the bright
lights and concrete of the Vegas strip. But that will all change soon.
Where some see only cactus and desert scrub, developer Harvey
Whittemore sees a new bedroom community for thousands of Las Vegas
commuters, along with a golf resort and estate homes, all surrounded by
desert preserve.
HARVEY WHITTEMORE, DEVELOPER & CEO, COYOTE SPRINGS: Literally, we had
66 custom lots identified in the center of the property, right in the
center there, and all of those 66 lots people are sitting there saying, are
in effect sold, because people said, "put me on the list."
YASTINE: On the valley floor, earthmovers are already beginning to
sculpt the golf courses, designed by Jack Nicklaus. The master-planned
community is a joint venture between Whittemore and the development arm of
the Professional Golfers Association. But creating a new town here would
not be possible without water and underneath the gravelly soil here is a
large water aquifer-- a natural underground reservoir- - holding millions
of gallons of water.
WHITTEMORE: You`ve got water resources that are less than 700 feet
below ground. You`ve got literally thousands of acre-feet of water on
property, and I`m sure when we, when you look at some of these things and
look at the wells and the water production facilities, you`ll be amazed at
the amount of water here, so its very unique. Las Vegas, there`s no place
in Las Vegas that has this combination of being the largest parcel of land
within 60 miles of Las Vegas, plus the water resources that we have.
YASTINE: Water has long been something that people and communities
were willing to fight over here in the desert southwest. In the words of
one official we talked to, water is considered a sacred resource. So as the
Las Vegas region continues to boom, water-conserving it, using it and
finding more of it, has been a key concern for everyone involved. That
concern has grown because of a five-year-old drought in the region, which
tested the ability of water managers to keep up with rapidly growing
demand. Much of the city`s water supply comes from the nearby Colorado
River, which also supplies the water needs of Nevada and six other states.
The drought is leaving its mark at Lake Meade, behind the Hoover Dam, with
a white so-called "bathtub ring" on the canyon walls. It`s forcing the
community to reconsider how it thinks about water.
PAT MULROY, DIRECTOR, SOUTHERN NEVADA WATER AUTHORITY: Twenty years
ago, Nevada`s biggest objective was to use all of its water as quickly as
we could, so California didn`t get it. Today, we are very, very stingy in
how we use our water resources and this community has gone through a
tremendous metamorphosis and change of attitude over its water supply.
Conservation is becoming a part of the ethic of this city.
YASTINE Much of the region`s water supply was being used to water
the lawns of its suburban homes, so water managers began paying homeowners
to pull up their turf and replace it with desert-friendly vegetation. The
water used by the casinos for things like fountains and even golf courses
is recycled. But despite the ongoing conservation efforts, experts say
more drastic measures, such as charging higher water-use fees, may be
needed if Las Vegas` rapid growth continues.
LAMBIS PAPELIS, RESEARCH PROFESSOR, DESERT RESEARCH INSTITUTE: It
might be a little bit painful. I give you the analogy ... I mean look at
the sentiment with respect to gasoline prices these days. What do people
do? People are still driving cars, but they think twice about maybe taking
a long trip or what kind of car they`re going to be driving. So it`s just
a matter of, you know, as the price goes up for any commodity, you just
think twice about how much of that you`re going to be using.
MULROY: It is a natural assumption for people to think that water
is a growth limiter. It`s not. It`s how we use that water and what we`re
willing to pay for it. One day, the entire southwest will be heavily
dependent on desalted ocean water, and where we draw our supplies from will
be different, and we`ll be paying more money from it.
YASTINE: Which brings us back to Harvey Whittemore and his Coyote
Springs development. Whittemore paid $15 million for the property in 1996,
but he`s already made a profit by selling the rights to a portion of the
water underneath for $25 million. And Whittemore knows he`ll need to
carefully manage the water beneath his development.
WHITTEMORE: Without the proper utilization of water resources, you
won`t have a development. You need to be good stewards and you`re starting
to see that.
YASTINE: Jeff Yastine, NIGHTLY BUSINESS REPORT, Coyote Springs, Nevada.
To
learn more about this topic, click here.
Nightly
Business Report transcripts are available on-line post broadcast.
The program is transcribed by eMediaMillWorks. Updates may
be posted at a later date. The views of our guests and commentators
are their own and do not necessarily represent the views of
Community Television Foundation of South Florida, Inc. Nightly
Business Report, or WPBT. Information presented on Nightly
Business Report is not and should not be considered as investment
advice. Copyright (c) 2005 Community Television Foundation
of South Florida, Inc. ALL RIGHTS RESERVED. Terms of use.
11/16/05:"Money File"-Keeping
Holiday Giving "In Check"
SUSIE GHARIB: In the "money file" tonight, teaching your kids the true meaning of
the holiday season. Here`s Chuck Jaffe, senior columnist for
"Marketwatch."
CHUCK JAFFE, SENIOR COLUMNIST, MARKETWATCH: Like most children
their age, my kids don`t always appreciate all that they have to be
thankful for. Over the last few years, I have tried to change that with a
new holiday tradition. Maybe, as you prepare for the holidays and the orgy
of gifts that they bring, you`ll consider this a possibility for your kids
or grandkids. Each year, I give my daughters a check that I have filled
out except for the name of the payee. To get that money, the kids must
give it away. They can choose any charity to receive the check, provided
they are willing to give the same organization a gift equal to at least 10
percent of my donation.
The value of the gift check rises every year. This year, with the
hurricane disasters, the tsunami catastrophe and more, there are many
worthy causes. And donors like my daughters must decide if they`re going
to support a group that has been in the news, or if they`re going to
support a charity that has suffered in 2005 because so much of the donation
pool has gone to those newsworthy causes.
In just a few years, my kids have learned to research charities, to
make smart choices about money and they have been generous with donations
to support both man and animal. When my oldest daughter told me last year
that she liked this gift "because we`re giving to someone who needs it more
than we do," I figured she was learning a better appreciation for what
she`s got. That`s a holiday gift that will last long after the new
clothing has been outgrown, the last toy is broken, and all those gift
cards have been exhausted. I`m Chuck Jaffe.
Nightly
Business Report transcripts are available on-line post broadcast.
The program is transcribed by eMediaMillWorks. Updates may
be posted at a later date. The views of our guests and commentators
are their own and do not necessarily represent the views of
Community Television Foundation of South Florida, Inc. Nightly
Business Report, or WPBT. Information presented on Nightly
Business Report is not and should not be considered as investment
advice. Copyright (c) 2005 Community Television Foundation
of South Florida, Inc. ALL RIGHTS RESERVED. Terms of use.
11/15/05:
"Paul Kangas' Stocks In The News"
PAUL KANGAS: Because that CPI report was in line with expectations, Wall
Street`s blue chips opened slightly higher, with the added help of solid
earnings from Tyco. The Dow rose 20 points at the outset of trading, while
the NASDAQ lost a fraction. But the blue chips faded after American
Express issued an earnings warning, while General Motors stock fell to a
new multi-year low and oil prices rebounded.
So the Dow Industrial Average closed down 11 2/3 points at
10,674.76. The NASDAQ Composite was up just over a point, ending at
2187.93, while the Standard & Poor`s 500 Index rose 2.20, ending at
1231.21. Over in the bond market, the 10-year note rose 22/32 to par and
6/32, lowering the yield to 4.48 percent.
The most active New York exchange issue on 23 1/2 million shares,
Tyco International (TYC) moving up $1.10. Fourth quarter earnings doubled
from last year, $0.44 versus $0.22, but the CEO says the stock is
undervalued and he`s going to take steps to boost it, like a stock buyback.
Pfizer (PFE) in their with a $0.52 loss.
Then General Motors (GM) at an 18-year low, down $1.32. Investors
seem to be losing confidence in the company`s CEO and there`s also fear of
a strike at Delphi. That could really put GM under pressure.
American Express (AXP) losing $0.85. It traded as low as $48.50
this morning though after the company said the fourth quarter Wall Street
earnings estimates are far too high.
ExxonMobil (XOM) up $0.75 on the snap back in energy prices.
Intercontinental Exchange (ICE) went public today. This is an
Atlanta-based energy trading firm, 16 million shares offered to the public
at $26, opened at $39. The high of the day $43.90, backed off, but still a
very good first day of trading.
Blockbuster (BBI) down $0.11.
Johnson & Johnson (JNJ) it`s going ahead to buy Guidant, up $0.42.
And General Electric (GE) a $0.14 gain.
Vodafone Group (VOD), tenth in big board volume, down $0.20.
Then came the golds, Newmont Mining (NEM), the granddaddy of them
all, up $3.01. New York December gold contract up $10.10 to $479.10 an
ounce. That`s right near an 18-year high.
Let`s see how some other issues in the sector. The tracking stock,
Streettracks Gold (GLD) up $1.12.
Anglogold Ashanti (AU) up $2.18.
And Barrick Gold (ABX), Glamis Gold (GLG) and Gold Fields Ltd (GFI)
all better than $1 gainers.
Conocophillips (COP) up $1.82. The company laid out an aggressive
plan to expand nine of its 12 U.S. refineries and that set well on Wall
Street.
Chicago Mercantile Exchange (CME) plunging nearly $9. Bank of
America downgraded it from "buy" to "neutral" on a valuation basis. Stocks
had quite a run as you can see.
Quicksilver Resources (KWK) up $3.06. The natural gas and oil
producer was upgraded by UBS financial brokerage from "neutral" to "buy."
Some see it as a potential takeover target.
Abercrombie & Fitch co (ANF) up $4.70. Third quarter earnings
jumped to $0.88, versus $0.64 last year. Same store sales soared 25
percent. Company boosted 2006 earnings guidance. Standard & Poor`s repeated
a "strong buy" on Abercrombie.
Too Inc (TOO) doing nicely, up $1.73. The girls apparel retailer
had third quarter earnings nicely higher, $0.48 versus last year`s $0.33.
Same store sales rose 8 percent. The company sees fourth quarter coming in
at $0.80 to $0.82, much better.
And then Arvinmeritor (ARM), the auto parts maker down $1.54.
YestVerday fourth quarter operating earnings plunged to $0.17 versus $0.44 a
year ago. Today the Baird brokerage downgraded it from "outperform" to just
a "neutral" rating.
And Biovail Corp (BVF) down $1.60. Bank of America sees generic
competition coming sooner than expected from the company`s Wellbutrin XL
antidepressant.
Volume leader Google (GOOG) within $0.07 of its all time closing
higher, up $5.35 today.
Microsoft (MSFT) $0.24 gain.
Apple Computer (AAPL) up $2.67. Bear Sterns raised Apple`s 2006
earnings target by 22 percent.
Yahoo! (YHOO) up $2.39. "Wall Street Journal" had an article
optimistic about ad revenues shifting from print media to the web.
Intel (INTC) $0.21 drop. That was fifth in dollar volume.
Gilead Sciences (GILD) up nearly $4 after the company settled a
dispute over the avian flu vaccine with Roche Laboratories.
A $0.05 drop in Cisco Systems (CSCO).
Ebay (EBAY) $0.51 loss.
Symantec (SYMC) fell $0.37.
And Sandisk (SNDK), tenth in dollar volume on NASDAQ up $0.64.
Those are the stocks in the news tonight .
Nightly
Business Report transcripts are available on-line post broadcast.
The program is transcribed by eMediaMillWorks. Updates may
be posted at a later date. The views of our guests and commentators
are their own and do not necessarily represent the views of
Community Television Foundation of South Florida, Inc. Nightly
Business Report, or WPBT. Information presented on Nightly
Business Report is not and should not be considered as investment
advice. Copyright (c) 2005 Community Television Foundation
of South Florida, Inc. ALL RIGHTS RESERVED. Terms of use.
11/16/05:
Market Stats
NET PERCENT
CLOSE CHANGE CHANGE
DOW CLOSE 10674.76 -11.68 - .1
HIGH 10712.22
LOW 10652.27
NASDAQ COMP. 2187.93 +1.19 +.1
HIGH 2191.19
LOW 2176.54
VOLUME 1,587.4
PREVIOUS 1,690.5
UP VOLUME 827.6
DOWN VOLUME 746.3
DOW TRANSPORTS 4001.65 -4.51 - .1
DOW UTILITIES 391.45 +3.27 + .8
CLOSING TICK +645
S&P 500 1231.21 +2.20 + .2
S&P 100 566.93 +.02 unch.
MIDCAP 400 716.88 +.89 + .1
REUTERS/CRB 315.31 +2.58 + .8
NYSE COMPOSITE 7518.98 +9.60 + .1
VALUE LINE 400.21 -.30 - .1
RUSSELL 2000 654.64 -1.59 - .2
DJW 5000 12308.30 +14.70 + .1
U.S. TREASURIES
5-YEAR NOTE 4.50%
Nov. 15,2010 100 11/32 +12/32 4.42
10-YEAR NOTE 4.50%
Nov. 15,2015 100 6/32 +22/32 4.48
30-YEAR NOTE 5.375%
Feb. 15, 2031 110 14/32 +1 9/32 4.67
LEHMAN BROS.
LONG BOND INDEX 1750.57 +12.97
DOW CLOSE 10674.76 -11.68 - .1
ADVANCES 1628
DECLINES 1715
NEW HIGHS 42
NEW LOWS 202
NET PERCENT
NYSE MOST ACTIVES 4PM CLOSE CHANGE CHANGE
TYC Tyco Intl 28.50 +1.10 +4.0
PFE Pfizer 21.37 -.52 -2.4
GM GM 21.29 -1.32 -5.8
AXP American Express 50.08 -.85 -1.7
XOM Exxon Mobil 57.18 +.75 +1.3
ICE Intercontl Exchng 39.25 +13.25 +51.0
BBI Blockbuster 3.48 -.11 -3.1
JNJ Johnson & Johnson 63.25 +.42 +.7
GE GE 34.54 +.14 +.4
VOD Vodafone Group 22.00 -.20 -.9
NASDAQ CLOSE 2187.93 + 1.19 + .1
VOLUME 1,737.3
PREVIOUS 1,748.2
ADVANCES 1225
DECLINES 1801
NASDAQ ACTIVES
GOOG Google 398.15 +5.35 +1.4
MSFT Microsoft 27.74 +.24 +.9
AAPL Apple Computer 64.95 +2.67 +4.3
YHOO Yahoo! 40.04 +2.39 +6.4
INTC Intel 24.87 -.21 -.8
GILD Gilead Sciences 55.63 +3.99 +7.7
CSCO Cisco Systems 17.22 -.05 -.3
EBAY eBay 42.54 -.51 -1.2
SYMC Symantec 18.78 -.37 -1.9
SNDK SanDisk 57.64 +.64 +1.1
AMEX CLOSE 1689.30 - 3.92 - .2
INDEX SHARES
DIA DIAMONDS TRUST 107.04 -.09 -.1
QQQ NASDAQ 100 40.77 +.25 +.6
SPY S&P DEP.RECEIPTS 123.49 +.21 +.2
STOCKS IN THE NEWS
NEM Newmont Mining 46.05 +3.01 +7.0
GLD streetTRACKS Gold 47.78 +1.12 +2.4
AU Anglogold Ashanti 43.19 +2.19 +5.3
ABX Barrick Gold 26.49 +1.22 +4.8
GLG Glamis Gold 23.05 +1.26 +5.8
GFI Gold Fields Ltd 14.94 +1.46 +10.8
COP ConocoPhillips 64.70 +1.82 +2.9
CME Chicago Mercant 377.94 -8.96 -2.3
KWK Quicksilver Rscs 39.06 +3.06 +8.5
ANF Abercrombie & Fit 61.59 +4.70 +8.3
TOO Too Inc 31.48 +1.73 +5.8
ARM Arvinmeritor 13.55 -1.54 -10.2
BVF Biovail Corp 24.91 -1.60 -6.0
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