NewsMine — economy — united-states — 2003 — 2003-sept-oct — Viewing Item

Weak dollar raises stocks Original Source Link: (May no longer be active)    http://seattletimes.nwsource.com/html/businesstechnology/2001761090_stox08.html http://seattletimes.nwsource.com/html/businesstechnology/2001761090_stox08.html Investors uncertain, but weak dollar raises stocks By Meg Richards The Associated Press NEW YORK — Wall Street extended its October winning streak into a fifth day yesterday, although trading was erratic as investors shied away from big commitments in advance of third-quarter earnings. The Dow Jones industrial average closed up 59.63 at 9,654.61, after recovering from midday losses. Microsoft, one of the 30 Dow stocks, slipped 5 cents to close at $29.14 per share. Boeing, also a Dow stock, gained 36 cents to $36.17. The broader market also reversed course to close higher. The Nasdaq composite index rose 14.39 to close at 1,907.85. The Standard & Poor's 500 index rose 4.90, to close at 1,039.25. After the close of trading, Alcoa, the nation's largest aluminum manufacturer, said its earnings had risen 45 percent, beating analyst expectations by 4 cents a share. Investors were pleased with the news. Alcoa rose 65 cents in after-hours trading, after losing 8 cents to close at $28.19 in regular dealings. Stocks appeared to be getting some support from the dollar, which weakened slightly against the Japanese yen, trading at 109.79 yesterday, down from 111.03 on Monday. Analysts said this could be good news for large-cap companies, technology firms and industrial goods producers that rely heavily on exports that are cheaper to buy when the dollar is down. Gold/oil In U.S. trading, gold soared $4.50 on the weaker dollar to $377.80 per ounce. Oil slipped 2 cents to $30.29 per barrel.

2 years in a row more in poverty Asian debt withdrawal threat to us deficit { September 7 2003 } Asian unpegging crucify us { October 3 2003 } Bush bid weaken dollar against asia { September 24 2003 } Bush cuts schools highways { September 10 2003 } Bush priorities under scrutiny Bush takes credit economic upturn { September 1 2003 } China brings us export resictions into trade debate Deficit not manageable { September 18 2003 } Deflation still worries federal reserve { September 17 2003 } Deflation will continue for years { September 10 2003 } Disappointed earnings bonds rally Dollar gains on euro { September 2 2003 } Dollar over valued { September 18 2003 } Dollar plunges 3 year low Dollar tumbles low against euro { October 8 2003 } Economy expands fastest since 1984 no jobs { October 31 2003 } Fed holds rates warns on deflation Firms dont buy rebound Firms still slashing jobs Foreign investors fear weak dollar { September 22 2003 } Gold hits 7 year high { September 25 2003 } Gold records as tumbling dollar { September 10 2003 } Government claims unemployment stabilizing { October 3 2003 } Grocery workers 3rd day strike san diego { October 14 2003 } Job loss like great depression Jobless claims lowest eight months { October 9 2003 } La transit strike may strand 500 thousand { October 14 2003 } Mass august layoffs { September 26 2003 } Monthly costs iraq approach vietnam Poor gained 1 3m in 2002 { September 3 2003 } States risk big losses bond funding pensions { October 12 2003 } Stocks at 14 month high { September 2 2003 } Stocks fall economy worries { September 30 2003 } Stocks lower after production data Stocks rebound hopes intact { October 1 2003 } Stocks rise on upbeat analyst reports { September 8 2003 } Stocks slip bonds rise Trade gap bring down dollar warns imf { September 19 2003 } Trade gap could bring down dollar { September 19 2003 } Uninsured increases 2 4 million last year { September 30 2003 } Us bonds face gloomier future as selling continues { September 7 2003 } Us closes last levis manufacturer { September 26 2003 } Us losing millions manufacturing jobs { September 4 2003 } Weak dollar raises stocks Files Listed: 45

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