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Investor's Business Daily

| August 01, 2005 | COPYRIGHT 2005 Investor's Business Daily, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Q2 GDP Grew 3.4%, Near Views

1That was down from Q1's annual rate of 3.8%. But final sales, which exclude inventory changes, surged at a 5.8% pace, the best since Q3 '03. Benchmark revisions lowered growth estimates for 2002-2004. The report's core inflation gauge was revised significantly higher for recent quarters, but cooled a bit to 2% in Q2. More on this page

Frist Backs Stem Cell Research

2Senate Majority Leader Bill Frist, R-Tenn., endorsed House-passed legislation to expand federal financing for human embryonic stem cell research, breaking with President Bush and religious conservatives. The move could impact his '08 presidential aspirations. The White House said Bush still favors a federal spending ban on new embryonic stem cell research. More on this page

Oil Hits $60.57 On Supply Woes

3Sept. crude jumped 63 cents to $60.57 a barrel -- hitting $61.05 intraday -- as supply disruptions piled up. BP shut down a North Sea oil field and reported a late Thurs. explosion at its Texas City refinery. Those followed a Thurs. fire at a Murphy Oil refinery in Louisiana. Crude rose $1.92 for the week. More on B16

Stocks Retreat On Mild Trading

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