Stock Watch: Increases in Prices, Mediocre Earnings Send Market Down; Rising Energy Costs Concern Investors
The Columbian › November 17, 2004
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Summary
NEW YORK A huge jump in wholesale prices sent stocks falling Tuesday as investors worried that rising oil prices were starting to take a toll on the overall economy. Mediocre earnings reports from retailers, including Wal-Mart Stores Inc., also pressured the market.
Wall Street was concerned that the sharp increase in the Producer Price Index, which rose 1.7 percent in October after a 0.1 percent hike in September, would either eat into fourth-quarter profits or be passed on to consumers, with the latter possibility spurring inflation as time goes on.See the full content of this document
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Stock Watch: Increases in Prices, Mediocre Earnings Send Market Down; Rising Energy Costs Concern Investors
"The PPI really wasn't that surprising. We knew energy prices were up and would start to affect wholesale prices,...
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