4:20 pm : Stocks closed at their worst levels of the day, snapping a three-day winning streak and positioning the broader market for its worst monthly performance in nearly two years as renewed inflation fears prompted broad-based consolidation. All 10 economic sectors lost at least 1.0% as the Nasdaq paced the way lower among the majors with a decline of 2.0% that pushed the tech-heavy index back into the red for the year.
With the market still extremely sensitive to weak economic data since the Fed's last rate hike on May 10th, Wal-Mart (WMT 48.41 -1.24) attributing higher
20/20 Summer Salad Long, sunny days are blissful for the soul but so-so for your sight.
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General Health Tip
Coffee and Pregnancy. Moms-to-be should take a break from coffee -- caffeine crosses the placenta and large amounts may lead to low birth-weight infants.
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NATALEE'S UNCLE SAYS 'RE-ARREST DEEPAK!'
Natalee Holloway's uncle is demanding that suspect Deepak Kalpoe be re-arrested in the 10-month-old mystery of the pretty blonde honor student who disappeared in Aruba. Deepak, his brother Satish and Joran van der Sloot were with the Alabama teen, pictured center, when she was last seen leaving a bar on the island in the early hours of May 30. Her uncle Paul Reynolds told The National Enquirer that he believes Deepak, 21, should be the chief suspect instead of van der Sloot, 18. Reynolds also... •STAR JONES CHEATS DEATH AS SHE UNDERGOES PLASTIC SURGERY •A WILD NIGHT OUT FOR JESSE & HIS PARTY PAL LINDSAY
Star Magazine
KATIE HOLMES: FEARING FOR HER TOMKITTEN
Katie Holmes was already worried about the upcoming birth of her baby. According to the tenets of 43-year-old fiancé Tom Cruise's religion, Scientology, she'll have to be silent (not even a moan!) during the delivery, lest the trauma be imprinted in her baby's brain. Plus, a source says, "Only Tom and a few Scientology supporters will be in the room — not Katie's mother!" And Scientology advocates separating the baby from its mother for at least the first 24 hours after birth. Now... •IT'S OVER! KRISTIN CHEATS ON NICK WITH HER EX! •ANGELINA PILOTING HER PLANE AT 7 1/2 MONTHS: IS SHE CRAZY?
ElBaradei: Iran not an immediate nuclear threat International Atomic Energy Agency (IAEA) Director General Mohamed El Baradei briefs the media during a board of governors meeting in Vienna's U.N. headquarters February 2, 2006. Iran does not pose an immediate nuclear threat and the world must act cautiously to avoid repeating mistakes made with Iraq and North Korea, ElBaradei said on Tuesday. (Herwig Prammer/Reuters)
2:20 pm PT Market Internals : The Dow decreased (1.63%) closing at 11094, the Nasdaq was down (2.06%) to finish at 2165, and the S&P was down (1.59%) to finish at 1260. Leading sectors included: oil and gas storage and trans +6.2%, education svc +0.94%, publishing and printing +0.41%, specialized consumer srvc +0.27%, healthcare srvc +0.25%. Lagging sectors included: steel --5.4%, auto manu -5.0%, div mtls and min -4.6%, agricultural pdcts -4.3%, home entertainment -4.3%. Today's movement came from below average volume (NYSE 1552, vs. closing avg of 1656; Nasdaq 1773, vs. 2117), with lower advance/decline ratios (NYSE 766/2512; Nasdaq 724/2314, and with new high's coming in lower than new low's on the NYSE, but higher on the Nasdaq (NYSE 25/129, Nasdaq 61/76).
2:10 pm PT Westwood One Announces Multi-Year Agreement With Excelsior Radio Networks (WON) 8.09 -0.15 : Co announced today a multi-year management agreement with Excelsior Radio Networks for the day-to-day operation of the Westwood One 24/7 music formats. Under the agreement, Excelsior Radio Networks, through it's Dial Communications - Global Media, will assume responsibility for affiliate sales and programming of the Westwood One 24/7 music formats effective August 1, 2006, and oversight of all aspects of the formats -- including advertising sales -- effective January 1, 2007.
2:06 pm PT Market Wrap : Stocks closed at their worst levels of the day, snapping a three-day winning streak and positioning the broader market for its worst monthly performance in nearly two years as renewed inflation fears prompted broad-based consolidation. All 10 economic sectors lost at least 1.0% as the Nasdaq paced the way lower among the majors with a decline of 2.0% that pushed the tech-heavy index back into the red for the year.
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