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Crude Tops $45, But Closes Flat
1Oct. oil futures surged above $45 a barrel, but faded to end up just 5 cents to $44.05. Crude rose early -- building on Wed.'s $1.88 gain -- after saboteurs blew up a pipeline in northern Iraq, and Russian oil giant Yukos issued the latest warning about its ability to stay in business. But the Russian gov't said Yukos' ops aren't threatened. More on B13
Intel Slashes Q3 Sales Guidance
2Citing weak PC processor and communications chip demand, the No. 1 chipmaker sees $8.3 bil-$8.6 bil in sales, down from $8.6 bil-$9.2 bil and Wall St. views of $8.88 bil. Some analysts had trimmed views recently, but nothing so drastic. Intel cut its Q3 gross margin goal. It'll trim operational costs. Intel shares dived after hours to near a 15-month low. More on this page
Stocks Rise In Subdued Volume
3 The Dow and Nasdaq both rose 1.2%, the S&P 500 1.1%, the small-cap S&P 600 1.4%. But volume finished about flat on the NYSE and much lower on the Nasdaq, despite a late oil-fueled rally. The market will digest Intel's warning and watch for Friday's jobs report and a possible volume pickup after Labor Day. More on this page, B2
Bush Promises "A Safer World'