Wednesday, August 20, 2008
U.S. stocks end higher as energy rebounds
U.S. stocks end higher as energy rebounds
U.S. stocks trade mixed with upbeat results from computer-maker
Hewlett-Packard unable to offset ongoing concerns about ailing financial
firms.
Strong report, forecast give boost to H-P's shares
Hewlett-Packard Co. shares climb more than 5% after the tech bellwether
says its broad product lines and international sales led its strong
third-quarter earnings report and fourth-quarter outlook.
Futures Movers: Oil ends higher; U.S. gas supply drops, but crude supply
jumps
Crude-oil futures close higher, after a U.S. government report shows
that gasoline supplies dropped more than 20 million barrels in the past
four weeks.
Mass. asks Fidelity to bail out auction-rate securities holders
After reaching deals with many of the top Wall Street banks over the
auction-rate-securities mess, regulators are now turning their focus on
brokerage firms not covered by those agreements -- like Fridelity and
Schwab.
Beijing priming post-Olympics money pump
Beijing is likely to implement post-Olympics stimulus measures to offset
a slowing economy and spur jobs growth, taking advantage of a benign
inflationary backdrop and an energized national mood in the wake of the
Games.
