Fill out this form to email this article to a friend
Digest
Markets rally on price stabilization
By TIMES WIRES
Published August 16, 2006
U.S. stocks ended higher Tuesday, with the S&P 500 at its best level in 2½ months, as a tame inflation report allayed fears of further interest rate increases to come. The Nasdaq Composite posted its best one-day point gain in more than six weeks to end at a one-month high, while the Dow Jones Industrial Average rallied triple digits to put in its biggest one-day point rise in more than three weeks. The Dow industrials rose 132.39 points, or 1.2 percent, to 11,230.26. The Nasdaq Composite Index moved up 45.97 points, or 2.2 percent, to 2,115.01. And the S&P 500 index climbed 17.37 points to 1,285.58; the broad gauge closed at its highest level since June 2. The Labor Department said the producer price index rose 0.1 percent in July, below the 0.3 percent gain expected, and the core PPI - which excludes food and energy prices - fell 0.3 percent, marking the first decline since October. Fed policymakers watch the core intermediate PPI carefully for signs that firms are facing stronger inflationary pressures, but the Fed is most focused on the prices that consumers pay. The July consumer-price report will be released Wednesday. Florida Busch parks boss named to post with parent Joe Couceiro, head of marketing for all four Florida theme parks owned by Anheuser-Busch Cos., has been named vice president of marketing for the parent company, Busch Entertainment Corp. Couceiro, who will continue to work from his offices in Orlando and Tampa, is not being replaced in Florida. He replaces Robin Carson, a former general manager of Busch Gardens in Tampa. Top AmSouth executive to keep role after merger Brett Couch, AmSouth's top Tampa Bay executive, will continue in that role with Regions Financial Corp. when the two banks complete their merger. He'll have overall responsibility for the bank's 99 branches in Pinellas, Pasco, Hillsborough, Hernando, Citrus and Polk counties, the banks said Tuesday. Reporting to him will be John Acosta, who will head Pinellas and Pasco operations. As previously reported, Susan Martinez will be Florida president for the combined bank, which will have $17-billion in assets.
[Last modified August 15, 2006, 23:09:39]
Share your thoughts on this story
|
News
Fifty years ago, they were screwed-up kids sent to the Florida School for Boys to be straightened out. But now they are screwed-up men, scarred by the whippings they endured. Read the story and see a video and portrait gallery.
Print
Email story
Comment
Email editor
