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Stocks wobble on personal spending data (Finance, 5 articles)
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IT is widely assumed that a stock's price will rise when it is added to a major stock market index. In fact, a new study has found that over the long term, stocks that are dropped from an index generally outperform those that are added. The stock market closed out a winning week with a narrowly mixed performance Friday after the government reported that Americans' spending rose in April to keep pace with rising costs. Investors who sent stocks higher for the three preceding sessions turned cautious after the Commerce Department said personal spending and personal income rose 0.2%. The readings were in line with the market's expectations and supported the notion that high commodity costs are not yet causing a sharp pullback in spending or increasing prices for other goods. But Wall Street's concerns about the economy and inflation are far from erased despite the stock market's healthy advance this week. Microsoft, one of the 30 Dow stocks, added 1 cent Friday to close at $28.32 a share, ending 1 percent higher for the week. In corporate news, Microsoft Corp. has renewed talks with Yahoo Inc. about a possible deal to bolster the companies' position in the online search and advertising markets.
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Other stories about Stocks, percent and index:
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Microsoft news and features (Finance, 5 articles)
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Microsoft emphasized that it hasn't resurrected a $47.5 billion takeover bid that its chief executive , Steve Ballmer, withdrew after Yahoo CEO Jerry Yang - acting on behalf of Yahoo's board - demanded another $5.5 billion. Yahoo is facing intense pressure from its shareholders to reopen sales negotiations, with activist investor Carl Icahn threatening to replace the Sunnyvale-based company's entire board unless a deal can be worked out before Yahoo's July 3 annual meeting. Tomorrow is the deadline to nominate a slate of candidates for a shareholder vote at Yahoo's annual meeting, scheduled for July 3.
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Inflation cat jumps out of the hat to stalk credit markets (Finance, 4 articles)
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The stories this week about people hoarding rice at some big-box U.S. retailers had to send at least a slight chill up the spines of Federal Reserve policymakers. That's when inflation becomes self-fulfilling: " I need to stock up on X, because X will cost a lot more tomorrow. As inflation worsened, in part because of the first surge in oil prices in 1973, many consumers were gripped by fear of ever-rising prices.
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blaster@cs.columbia.edu
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