Wednesday, August 4, 2004

Oil prices slam markets again

The Associated Press

NEW YORK - Another record high for oil prices and a sharp drop in consumer spending rattled investors Tuesday, sending stocks lower.

The market, already fretting over the impact of fuel costs on corporate profits, took another blow as U.S. crude prices jumped above $44 a barrel for the first time.

The Dow Jones industrial average fell 58.92, or 0.6 percent, to 10,120.24. The decline halted the Dow's longest winning streak since November, an advance of 217 points that lifted the blue-chip measure back above 10,000.

New carrier may join Delta
Coke's pop art poster touts Freedom Center
Ky. bank's CEO aims to expand
LSI's stock tumbles 10%
Martha Stewart Inc. takes bath
Photo essay: Heart and sole
Oil prices slam markets again
Car sales rebound in July
Consumer spending drop in June biggest since 2001
Huffy trying to steer around bumps in road
Banks address U.S. alert
Adjacent Jeep supplier in Toledo a U.S. first
Tristate business summary
Business digest
Business notes