4:20 pm : After two consecutive days of consolidation wiped out much of the August rally, stocks bounced back Friday as low valuations that were attractive last week looked even better at current levels in the wake of widespread profit-taking. To wit, the Dow, S&P 500 and Nasdaq were up 1.7%, 2.1% and 4.4%, respectively, last month but heading into today's open had already relinquished 1.2%, 1.5%, and 2.3% since Tuesday.
With policy makers keeping a watchful eye on inflation risks like higher energy prices, a sharp decline in oil coupled with a Fed official saying that
Drowning a Diet? Beware the stealth calories in sugary juices and sodas if you're watching your weight -- they add up fast, and have little nutritional value.
More
KATHY GRIFFIN DELAYED HER DIVORCE FOR SAKE OF SHOW
In a shocking public announcement, Kathy Griffin claimed that ex-hubby Matthew Moline robbed her of $72,000 — but she failed to mention that she held the marriage together for the sake of her TV show. During a recent interview with CNN's Larry King, the 44-year-old comedienne claimed that Moline, 35, stole cash from her during their five-year marriage. "My husband, without my knowledge, was sneaking into my wallet when I was asleep in the mornings and taking my ATM cards from my private... SEACREST GRILLS KATE BOSWORTH BREAKING NEWS! EXCLUSIVE: COCAINE SECRET BEHIND CHRISTIE BRINKLEY DIVORCE
Star Magazine
JADA'S SEEN SURI!
Jada Pinkett-Smith is hopping on the Suri sighting train. King of Queens star Leah Remini fessed up to seeing Tom and Katie's baby earlier this month and now Jada says she's seen the baby twice. "She's one of the sweetest babies I've ever met in my life," Pinkett Smith told People magazine. "She's an absolute beauty and she's Daddy's little girl." She went on to say that, "She's beautiful and they're very happy and they need to be left alone. She's the cutest little baby. She's got a head full... KATHARINE MCPHEE: NO LONGER IDLE LITTLE MISS SUNSHINE
N.Y. manhunt ends with surrender Law enforcement officers transport Ralph "Bucky" Phillips, center, after he was captured in Akeley, Pa., Friday, Sept. 8, 2006. Phillips, suspected of shooting three New York state troopers, one of whom later died, was captured Friday night after more than five months on the run, New York State Police Inv. Gary Colon said. Phillips surrendered to police around 8 p.m., walking out of a field with his hands up. (AP Photo/David Duprey)
2:24 pm PT Market Internals (MKTIN) : The Dow increased 0.58% closing at 11397, the Nasdaq was up 0.49% to finish at 2166, and the S&P was up 0.38% to finish at 1299. Leading sectors included: Diversified Commercial and Prof Services +5.6%, Tires and Rubber +4.3%, IT Consulting and Services +3.9%, General Merchandise Stores +3.6%, Home Entertainment Software +3.3. Lagging sectors included: Coal and Consumable Fuels -3.1%, Oil and Gas Exploration and Production --3.0%, Oil and Gas Refining and Marketing -2.9%, Oil and Gas Drilling -2.6%, Gold --2.0%. Today's movement came from lower than avg. volume (NYSE 1314, vs. closing avg of 1543; Nasdaq 1492, vs. 1818), with advancers outpacing decliners (NYSE 1988/1249; Nasdaq 1621/1327 and with new highs outpacing new lows (NYSE 69/46, Nasdaq 59/49).
2:16 pm PT BlackRock reaffirms earnings guidance for 2007 (BLK) 133.01 +0.90 : Laurence D. Fink, Chairman and Chief Executive Officer, of BLK is scheduled to speak at the Lehman Brothers Financial Services Conference in New York on Tuesday, September 12, 2006 at 4:45 p.m. EST. In anticipation of comments to be made by Mr. Fink, the Co reaffirmed the earnings guidance for 2007 contained in its�Q2 earnings release issued on July 18, 2006, which is $6.65-6.95 vs. Reuters estimate of $6.79.
2:10 pm PT Kimco Realty and Pan Pacific Retail Properties, announce merger agreement consideration (KIM) 41.42 +0.31 : Co and�PNP announced that, as permitted by their merger agreement, Kimco has elected to pay the $70 per share merger consideration with $60 in cash and $10 in newly issued Kimco common stock, payable to Pan Pacific stockholders in connection with Kimco's acquisition of Pan Pacific.