Anxiety

...ba href=/anxiety/a/b in the market was over the Fed's accompanying policy statement, which would indicate what the central bank's plans are for rates in the near future.The Fed's two-day meeting, which began Monday, is the first led by new chairman Ben Bernanke.In morning trading, the Dow Jones industrial average slipped 10.40, or 0.09 percent, to 11,239.71.Broader stock indicators were also slightly lower.

The Standard & Poor's 500 index was off 0.75, or 0.06 percent, at 1,300.86, and the Nasdaq composite index fell 0.15, or 0.01 percent to 2,315.43.Bonds fell after the Conference Board reported that its monthly measure of consumer confidence jumped 4.5 points to 107.2, the highest level since May 2002 and far above analysts' expectations of 102.

The yield on the 10-year Treasury rose to 4.75 percent from 4.71 percent late Monday.Oil futures opened sharply higher following the threat of a strike in Norway, where production is already down.

Oil was trading up 99 cents a barrel at $65.15 on the New York Mercantile Exchange.General Motors Corp.

announced another round of layoffs Tuesday, but after initially falling its shares edged up 17 cents to $23.10.

The move follows last week's announcement of buyout offers to more than 100,000 hourly workers.Tiffany & Co.

fell 46 cents to $38.05 after the high-end jewelry retail reported earnings that were well below the same level a year ago.Level 3 Communications Inc.

jumped 51 cents or 11.4 percent to $4.98 after the network operator raised its est...

...ba href=/anxiety/a/b in the wake of a Supreme Court directive.

"The notification is aimed at helping small traders as the Supreme Court has also directed that major and minor violators should be segregated.

The decision has been taken in that spirit," Minister of State for Urban Development Ajay Maken told reporters.

"The decision is according to law and has been taken after considering all legal aspects," he said.

The new policy would legalise commercial activities on the ground floor of residential premises on as many as 118 roads in the capital.

The notification comes in the wake of Supreme Court's direction to MCD to close down commercial establishments operating out of residential premises and also amidst stiff opposition from various Resident Welfare Associations (RWAs) across the capital.

The RWAs are opposed to allowing commercial activities in residential areas as they feel this would put undue strain on the infrastructure, including water, power, parking facilities etc, of such colonies.

Asked about the opposition from RWAs to the move, Maken gave the assurance that they should not panic.

He said the decision would provide relief to thousands of small shopkeepers operating from the ground floor of residential premises.

Maken also said the MCD Commissioner has been informed about the decision and a copy of the notification has been despatched to him.

RELATED STORIES28-Mar-2006Mixed land use notified in DelhiOffice of profit: BJP seeks disqualification of 19 Cong M...

...ba href=/anxiety/a/b in the market was over the Fed's accompanying policy statement, which would indicate what the central bank's plans are for rates in the near future.

The Fed's two-day meeting, which began Monday, is the first led by new chairman Ben Bernanke.

In late morning trading, the Dow Jones industrial average slipped 11.93, or 0.11 percent, to 11,238.18.

Broader stock indicators were mixed.

The Standard & Poor's 500 index was off 0.92, or 0.07 percent, at 1,300.69, and the Nasdaq composite index rose 1.45, or 0.06 percent to 2,317.03.

Bonds fell after the Conference Board reported that its monthly measure of consumer confidence jumped 4.5 points to 107.2, the highest level since May 2002 and far above analysts' expectations of 102.

The yield on the 10-year Treasury rose to 4.76 percent from 4.71 percent late Monday.

Bond prices were also under pressure ahead of the Fed's announcement.

Bond yields rise when their prices fall.

The Fed has been raising rates steadily since June 2004 under a program begun by Bernanke's predecessor, Alan Greenspan.

Since that time the benchmark federal funds rate, the interest that banks charge each other for overnight loans, has risen from 1 percent to the current level of 4.5 percent.

Next Back to Economy/Markets Headlines Subscribe!

Enter your email to join digital digest today!

Click button below to submit Sponsor Links Contact Us Mana...