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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth E. Phillipps who wrote (703900)	9/26/2005 10:47:59 AM
From: Hope Praytochange	Read Replies (1) \| Respond to of 769670

kennyparrot depressed on news:Stocks Up, Rita Damage Less Than Feared By THE ASSOCIATED PRESS Filed at 10:24 a.m. ET NEW YORK (AP) -- Stocks rose in a relief rally Monday as hurricane damage to Gulf Coast refineries appeared to be less than feared and oil prices declined. Reports that Hurricane Rita narrowly missed key petroleum facilities sent oil and gas prices lower, although 16 Texas refineries remain closed and one suffered significant damage. A barrel of light crude eased 55 cents to $63.64 on the New York Mercantile Exchange, where gasoline futures also declined 8.1 cents to $2.005 a gallon. Wall Street's advance extends a brief recovery from the end of last week, when Rita weakened and calmed fears it would bring a new round of devastation after Hurricane Katrina battered the Gulf Coast late last month. Nonetheless, the Dow Jones industrial average lost 2.09 percent for the week, its biggest weekly decline since June. In morning trading, the Dow Jones industrial average gained 67.69, or 0.65 percent, to 10,487.28. Broader stock indicators were also higher. The Standard & Poor's 500 index rose 4.67, or 0.38 percent, to 1,219.96, and the Nasdaq composite index advanced 10.49, or 0.5 percent, to 2,127.33. Bonds continued sliding, with the yield on the 10-year Treasury note rising to 4.29 percent from 4.25 percent on Friday. The U.S. dollar gained against other major currencies in European trading, while gold prices slipped from 17-year highs reached early last week. In corporate news, Boeing Co. landed a tentative labor agreement with its mechanics, who walked off the job three weeks ago. Union leaders have urged its 18,400 members to approve the deal, which increases pension payouts, continues retiree medical benefits and carries an 8 percent signing bonus but no wage raise. Boeing added $2.36 to $65.56. Meanwhile, drugstore chain Walgreen Co. reported its quarterly profit rose about 1 percent after costs from Katrina. Excluding charges, Walgreen's earnings of 35 cents per share still missed Wall Street estimates by 2 cents. The company added 32 of its stores in the New Orleans region remain closed. Walgreen dropped $1.10 to $41.41. Shipping firm FedEx Corp. said income for the current period may also be hurt by Katrina while service to New Orleans continues to be disrupted. FedEx, however, did not estimate the hurricane's impact in its quarterly report filed late Friday. FedEx rose 80 cents to $83.90. Advancing issues outpaced decliners by about 2 to 1 on the New York Stock Exchange, where volume of 182.3 million shares topped the 167.6 million shares traded at the same point Friday. The Russell 2000 index of smaller companies climbed 3.11, or 0.47 percent, to 658.57. Overseas, Japan's Nikkei stock average gained 1.77 percent percent. In afternoon trading, Britain's FTSE 100 added 0.49 percent, Germany's DAX index jumped 1.85 percent, and France's CAC-40 was higher by 1.55 percent. ^------ On the Net: New York Stock Exchange: nyse.com Nasdaq Stock Market: nasdaq.com