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Oil Surges To $44 On Stockpiles
1After falling for 7 out of 8 sessions, Oct. crude rallied $1.88 to $44 a barrel -- hitting $44.40 intraday -- after reports showed U.S. stockpiles fell a sharp 4.2 mil barrels last week to a 5-month low. Crude stocks have fallen by 18 mil barrels, or 6%, since early July. There were reports of fresh sabotage on Iraqi pipelines. More on B13
Manufacturing Cools, Still Strong
2The ISM manufacturing index fell 3 points to 59 in Aug. That's far above the boom-bust 50 mark, but below the robust 60 line for the first time in 10 months. Indexes for jobs, supplier deliveries and order backlog all fell for a 4th straight month, but still held over 50. Factories are paying a lot for supplies like oil. More on this page, A2
Aug. N. America Auto Sales Weak
3Higher gas prices offset rising incentives. Adjusted for selling days, GM's sales fell 7% vs. Aug. '03 and Ford's slid 5.9%. Both cut Q4 production targets as inventories swell. DaimlerChrysler's Chrysler sales rose 1%. Toyota sales fell 2.8%, and Honda 7.1%. Hurricane Charley, high energy prices and gloomier consumers hit sales.
Russia School Kids Held Hostage