Here are the top business stories at this hour
Monday, August 23rd 1999, 12:00 am
News On 6
(New York-AP) -- Fed, shmed. The Dow Jones industrial average
surged to a new record high as investors decided to stop worrying
about what the Federal Reserve will do at Tuesday's meeting and
beyond. The Dow rose 199 points to a new high eleven-thousand-299.
The Nasdaq composite jumped 71.
(Washington-AP) -- Analysts still predict that the Federal
Reserve will raise interest rates a notch at Tuesday's meeting. The
rallying stock market suggests Wall Street is confident the Fed
won't have to boost rates even higher in the fall, but some experts
say you can't make that conclusion.
(Glenview, Illinois-AP) -- Zenith Electronics has filed for
Chapter Eleven bankruptcy as the struggling maker of T-V's and
V-C-R's tries to restructure its operations and reduce debt. Zenith
is trying to remake itself by de-emphasizing manufacturing.
(San Francisco-AP) -- An appeals court has ordered a federal
judge to reconsider the restrictions he placed on shipments of
Microsoft software containing Sun Microsystems' Java programming
language. Sun claims Microsoft has violated a licensing agreement
(New York-AP) -- The rally on Wall Street lifted the dollar, and
it saw especially sharp gains against the euro and the British
pound. But the greenback fell slightly versus the Japanese yen.
Gold prices plunged in New York and Europe.