AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Market Mixed; Nasdaq Below 50-Day
1The blue-chip Dow industrial average and tech-rich Nasdaq lost ground last week. Smaller stocks advanced as the small-cap S&P 600 climbed 1.3%. The Nasdaq's losing streak grew to six weeks, its longest retreat since the '02 market bottom. The index touched its 50-day average Friday morning before turning 0.1% lower.
Greenspan Calls For Cuts
2Fed chief Alan Greenspan implored Congress to deal with the U.S.' escalating budget deficit by cutting Social Security and Medicare benefits for future retirees. He also told a Senate panel that government-sponsored mortgage giants' rising debt could threaten the U.S. financial system. He urged privatizing Fannie Mae and Freddie Mac. Both entities rejected his claims.
Pensions Targeting Eisner
3North Carolina joined pension plans in six other states that will vote against Michael Eisner at Walt Disney's annual meeting Tuesday. They say they've lost faith in the once-celebrated chairman and CEO, adding momentum to ex-directors Roy Disney and Stanley Gold's campaign to oust him.
GDP Growth Revised Up