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Today's Business Headlines - Market Close from MSNBC.com
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Market Closing Prices
DJIA: 10594.41 -21.26
NASDAQ: 2157.81 -16.38
S&P 500: 1229.13 -2.25
AMEX: 1640.53 +8.93
Wall Street Watch: Complete coverage
http://www.msnbc.msn.com/id/3032221/
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Business
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Soaring oil prices choke Wall Street's rally
Oil prices that soared to $65 a barrel choked off an early rally on Wall Street
Wednesday, pummeling the marketâ?Ts optimism about the economy in the process.
The tech-focused Nasdaq composite index was also hurt by a disappointing
forecast from networking gear maker Cisco Systems Inc.
http://msnbc.msn.com/id/3683270/
Get used to $2.10 or more for gas, EIA says
U.S. drivers can expect retail gasoline prices to average above $2.10 a gallon
on a monthly basis through 2006, while truckers will face average diesel fuel
costs over $2.20, the government said Wednesday.
http://msnbc.msn.com/id/8897701/
Oil prices surge to record $65 a barrel
Oil prices surged higher Wednesday, touching a new high of $65 a barrel, after
the U.S. government released data that showed domestic oil supplies growing but
gasoline inventories shrinking.
http://msnbc.msn.com/id/5612507/
Unocal shareholders approve Chevron takeover
A bidding war that pitted U.S. and Chinese oil powerhouses against each other
and stemmed fierce political opposition ended Wednesday. Shareholders in oil
and gas producer Unocal gave preliminary approval to an offer to be acquired by
Chevron Corp. in a deal worth more than $17 billion.
http://msnbc.msn.com/id/8894402/
Back-to-school season a test for retailers
Around the country, retailers like Office Depot are in the thick of their
back-to-school sales seasons, and they are working hard to gain an edge in a
very competitive environment. By MSNBC.com's Roland Jones
http://msnbc.msn.com/id/8788875/
Budget gap narrows to $52.79 billion in July
The U.S. posted a smaller than expected $52.79 billion budget deficit in July
as revenues swelled, a Treasury Department report showed Wednesday.
http://msnbc.msn.com/id/8897852/
Yahoo to buy stake in Alibaba.com for $1 billion
Yahoo Inc. is close to paying $1 billion and forking over its China operations
for a 35 percent stake of Chinaâ?Ts second-largest e-commerce operator,
Alibaba.com, a source close to the discussions said on Wednesday.
http://msnbc.msn.com/id/8893761/
WorldCom ex-controller gets a year in prison
The former controller of WorldCom, who admitted playing a pivotal role in the
company's $11 billion accounting fraud, was sentenced Wednesday to one year and
one day in prison.
http://msnbc.msn.com/id/8898465/
Whirlpool hikes Maytag bid to $2.7 billion
Whirlpool Corp. Wednesday raised its takeover offer for Maytag Corp. a third
time, to $21 a share, moving to derail its smaller rivalâ?Ts $14-a-share buyout
by a private equity firm.
http://msnbc.msn.com/id/8895570/
Krispy Kreme to restate years of earnings
Krispy Kreme Doughnuts Inc. needs to restate its past earnings downward by
$25.6 million over the past several years, according to a report issued
Wednesday by a special committee examining the finances of the troubled snack
maker.
http://msnbc.msn.com/id/8894751/
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