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From Dubai to BellSouth, and to a public NYSE |
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3/11/2006 8:35:57 AM |
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It seemed to be an epochal week as President Bush suffered one of his worst political defeats, AT&T Inc. moved another step closer to reconstructing itself and the New York Stock Exchange became a publicly traded company.
It seemed to be an epochal week as President Bush suffered one of his worst political defeats, AT&T Inc. moved another step closer to reconstructing itself and the New York Stock Exchange became a publicly traded company.
Bush found his ability to influence Congress has all but collapsed, as Republicans joined with Democrats in rejecting the acquisition of several U.S. ports by a company headquartered in Dubai of the United Arab Emirates.
The Dow Jones Industrial Average ($INDU : Dow Jones Industrial Average
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Last: 11,076.34+104.06+0.95%
4:30pm 03/10/2006
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$INDU11,076.34, +104.06, +0.9%) managed to edge higher on the week, ending at 11,076.34 up 0.5%.
The Nasdaq Composite Index ($COMPQ : Nasdaq Composite Index
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Last: 2,262.04+12.32+0.55%
5:16pm 03/10/2006
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$COMPQ2,262.04, +12.32, +0.5%) finished the week at 2,262.04 off 1.8% since last Friday.
The S&P 500 Index ($SPX : S&P 500 Index
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Last: 1,281.58+9.35+0.73%
4:59pm 03/10/2006
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$SPX1,281.58, +9.35, +0.7%) ended at 1,281.58. The broad gauge fell 0.4% over the past seven days.
Our weekend feature looks at how China's insatiable demand for raw materials is boosting the fortunes of BHP Billiton (BHP : bhp billiton ltd sponsored adr
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Last: 34.84+0.49+1.43%
8:04pm 03/10/2006
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BHP34.84, +0.49, +1.4%) . Visit the front page.
Also take advantage of our top-notch tax advice. See the MarketWatch Tax Guide.
On "MarketWatch Weekend," aired on CBS stations, find out about the surge in sleeping pill prescriptions in the United States. Preview the show.
Tom Bemis, assistant managing editor
Dubai Ports willing to deal U.S. assets
Dubai Ports World has decided to sell operations at some U.S. ports to a domestic entity in a bid to end a political firestorm, Senate Armed Services Committee Chairman John Warner, R-Va., said on the Senate floor Thursday afternoon. See full story.
AT&T to pay $67 billion for BellSouth
For AT&T Inc. (T : AT&T Inc.
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Last: 27.23+0.28+1.04%
4:38pm 03/10/2006
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T27.23, +0.28, +1.0%) Chief Executive Ed Whitacre, reconstituting Ma Bell wasn't enough. See full story.
NYSE goes from public institution to public ownership
The New York Stock Exchange is going back to its roots. See full story.
U.S. trade gap sets new record in January
The U.S. trade deficit continued to expand in January after setting a new annual record in 2005, a government report showed Thursday. See full story.
Tax-cutter Thomas won't return to Congress
Unable to retain the chairmanship of one of Congress' most powerful committees, top House tax legislator Bill Thomas, R-Calif., won't return to Capitol Hill next year. See full story.
Lionsgate, Universal cap respective good and bad weeks
It was a showdown between two art-house film operations, with an unexpected ending. See full story.
TaxWatch: Taxpayers leave billions of dollars on the table
Time is running out for millions of taxpayers to collect an estimated $2 billion they left on the table in 2002. See full story.
China dollar trades are inflationary: N. Y. Fed chief
China's policy of buying dollar assets to keep its currency tied to the dollar masks U.S. financial-market conditions and heightens the risk of inflation in the United States, said New York Fed President Timothy Geithner on Thursday. See full story.
Warm weather means smaller heating bill, U.S. says
The average U.S. household is expected to pay $892 to heat the house this winter season, up $107, or 13.6%, from last year, but $152 less than projected at the beginning of the winter, the Energy Department said Tuesday. See full story.
What if the yield curve stops being inverted?
Don't look now, but the yield curve appears to be twisting back toward its normal positive slope. Now the question becomes the following: Is this good news or bad news? See Irwin Kellner.
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