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Today's Business Headlines - Market Close from MSNBC.com
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Market Closing Prices
DJIA: 10421.44 -166.49
NASDAQ: 2070.66 -21.37
S&P 500: 1200.73 -13.15
AMEX: NaN ??
Wall Street Watch: Complete coverage
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Business
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Record high oil prices slam Wall Street
Wall Street tumbled Thursday, with the Dow Jones industrial average dropping
166 points, as oil reached a new all-time high of $60 per barrel, prompting a
sell-off in a battered transportation sector that spread to the rest of the
stock market.
http://msnbc.msn.com/id/3683270/
Housing market still strong despite sales dip
Sales of existing homes slowed slightly in May but still came in at the
second-highest level on record with home prices hitting an all-time high.
http://msnbc.msn.com/id/8330748/
Greenspan, Snow warn against China sanctions
Federal Reserve Chairman Alan Greenspan told lawmakers Thursday that thereâ?Ts
no credible evidence U.S. manufacturing activity or factory jobs would be
helped by China revamping its currency system.
http://msnbc.msn.com/id/8331357/
Oil prices hit record high of $60
Oil prices briefly hit a record at $60 a barrel on Thursday amid a flurry of
buying that brokers said was difficult to explain, though they cited underlying
supply fears and speculation as the main factors.
http://msnbc.msn.com/id/5612507/
Chinese oil producer bids for Unocal
Chinese state-run oil firm CNOOC Ltd. said on Thursday it is confident its
$18.5 billion cash offer for U.S. oil producer Unocal will prevail in a
takeover battle with Chevron Corp.
http://msnbc.msn.com/id/8322541/
Mortgage rates drop back near 14-month lows
After a brief one-week jump, mortgage rates have fallen back to near their
recent 14-month lows, mortgage giant Freddie Mac said Thursday.
http://msnbc.msn.com/id/7148582/
Unrealistic home price bets cause concern
An explosion in mortgage products that lowers payments in the early years of a
loan has helped to extend U.S. home ownership, but carries risks, Federal
Reserve Board Governor Mark Olson said Thursday.
http://msnbc.msn.com/id/8330997/
FedEx earnings climb 9 percent
FedEx Corp. said Thursday its fiscal fourth-quarter earnings increased 9
percent from last year, but costs associated with the start-up of a new
westbound, around-the-world flight kept the package delivererâ?Ts results below
Wall Street expectations.
http://msnbc.msn.com/id/8330926/
General Electric to reorganize into six units
General Electric Co. said Thursday it will reorganize the companyâ?Ts 11
businesses into six industry-focused groups, and has named three new vice
chairmen.
http://msnbc.msn.com/id/8329829/
Jobless claims drop by a sharp 20,000
The number of Americans filing new applications for unemployment benefits fell
sharply last week, signaling that job growth should remain strong in the months
ahead.
http://msnbc.msn.com/id/8330048/
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