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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: yard_man who wrote (257684)8/26/2003 1:12:09 PM
From: Giordano Bruno   of 436258
 
Financial stocks broadly lower at midday ($XBD, $BKX) By Greg Morcroft
NEW YORK (CBS.MW) -- Major U.S. financial inexes fell in thin trading Tuesday and buyers were scarce as concerns about mounting deficits offset more encouraging signs the U.S. economy was improving as durable goods orders rose for the third straight month. The AMEX Securities Broker/Dealer Index ($XBD) fell 1.4 percent and the Philadelphia Bank Sector Index ($BKX) fell 0.8 percent. Earlier Tuesday, the Congressional Budget Office, citing an ongoing decline in revenues and a large increase in spending, said the deficit would more than double this year as a percentage of GDP, rising from 1.5 percent in fiscal 2002 to 3.7 percent in 2003.
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