U.S. stock market report [.N]
0749 ET 27Jan2009-Crude oil down, inventories eyed
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March crude futures traded lower on Tuesday, as forecasts called for
another increase in crude inventories, another sign that the recession was
weighing heavily on demand.
The contract slid 1.9 percent to $44.87.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0741 ET 27Jan2009-Ex-AIG exec forms joint venture in Bermuda
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C.V. Starr, an investment and insurance group run by former American
International Group (AIG.N) executive Maurice Greenberg, on Monday formed a
joint venture with a Bermuda insurance company. The venture will reunite
Greenberg with executives who once worked under him at AIG.
The venture will be based in Bermuda and offer excess financial and
commercial lines insurance and reinsurance products through insurance companies
across the globe. [ID:nN26406097]
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0737 ET 27Jan2009-Futures mixed after earnings data
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U.S. index futures were mixed on Tuesday, following the release of
quarterly results from such companies as Verizon Communications (VZ.N) and
DuPont (DD.N), two Dow components. Investors were also waiting for such
economic indicators as ICSC chain stores data and the S&P/Case-Shiller home
price index.
Dow Jones industrial average futures DJc1 rose 29 points while S&P 500
futures SPc1 were up 4.4 points and Nasdaq 100 futures NDc1 fell 2.25
points.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0732 ET 27Jan2009-DuPont reports quarterly loss, cuts outlook
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Chemical company DuPont (DD.N) on Tuesday reported a fourth-quarter losses,
hurt by a slump in demand and severance- and restructuring-related charges. It
also cut its full-year outlook. [ID:nN27409529]
Shares of DuPont, a Dow component, fell 1.2 percent to $22.90.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0725 ET 27Jan2009-People losing trust in business: survey
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About 62 percent of informed adults trust businesses less than they did a
year ago, according to the Edelman Trust Barometer, which measures whether
people believe industry is able to bring prosperity. In the United States, 77
percent of respondents said they lost trust in business as the markets were
hurt by one of the biggest financial crises since the Great Depression.
[ID:nN22548961]
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0715 ET 27Jan2009-Honda to further cut North American production
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Honda Motor on Tuesday said it would cut production further in North
America and Japan as it attempts to deal with weak demand amid an economic
downturn. It is slashing production by an extra 29,000 units in North America,
and 21,000 units in Japan.
The company's total production volume this fiscal year will be 12 percent
below the level in the year-ago period. [ID:nT71705]
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0705 ET 27Jan2009-Dudley named to succeed Geithner: source
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William Dudley on Tuesday was named president of the New York Federal
Reserve Bank, according to a source familiar with the decision. He was
previously the head of the New York Fed's markets group. Dudley succeeds
Timothy Geithner, who on Monday was approved to become U.S. Treasury Secretary.
Geithner's appointment served to calm fears among those who worried about a
leadership vacuum in the middle of a recession. For more see [ID:nN26396469]
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0657 ET 27Jan2009-Economic indicators for Jan. 27
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Economic indicators on tap for Tuesday include ICSC chain stores data, U.S.
Redbook weekly chain store sales data, November S&P/Case-Shiller home price
index, the January Conference Board consumer confidence reading and the ABC
Consumer Comfort Index. For details, see [ECI/US]
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0645 ET 27Jan2009-Earnings diary for Jan. 27
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Companies scheduled to report quarterly results on Tuesday include: Jacobs
Engineering Group (JEC.N), Sun Microsystems (JAVA.O), AK Steel Holdings
(AKS.N), Bristol-Myers Squibb (BMY.N), DuPont (DD.N), EMC Corp (EMC.N), Lexmark
International (LXK.N), Nucor (NUE.N), Hershey Co (HSY.N), United States Steel
(X.N), Valero Energy Corp (VLO.N), Verizon (VZ.N) and Yahoo Inc (YHOO.O).
