new yorkDennis Seid 4/29/09
Stocks end higher on
Fed recession outlook
n NEW YORK – The Fed confirmed what Wall Street has already concluded: The recession is starting to ease.
Federal Reserve policymakers said at the end of a two-day meeting that while the economy is still receding, the pace of decline “appears to be somewhat slower” than the last time they met in mid-March.
The Dow jumped 168.78, or 2.1 percent, to 8,185.73. The Standard amp& Poor’s 500 index gained 18.48, or 2.2 percent, to 873.64, and the Nasdaq composite index advanced 38.13, or 2.3 percent, to 1,711.94.
The Russell 2000 index of smaller companies rose 18.63, or 3.9 percent, to 491.47.
Double E Promotions
open house today
n BOONEVILLE – Double E Promotions, a music promotions company, is having a ribbon-cutting and open house today at 3 p.m. at its office at 101 W. Market St.
A reception will be held at the Depot at the Booneville Chamber of Commerce building at 4 p.m.
Double E is affiliated with artists such as Allen Frizzell, Mel Tillis, Roy Clark, Gene Watson, Little Jimmy Dickens, Tommy Cash, and Marty Haggard. The company also has worked shows with Tim McGraw, Bill Anderson, Dottie West, Tom T. Hall, Vern Gosden, O.B. McClinton and others. For more information, call (662) 554-3372.
quarter earnings fall
n HARTFORD – Waste Management Inc., the nation’s largest garbage collector, said Wednesday its first-quarter profit fell 36 percent on restructuring and other costs and as the recession cut prices of recycled goods.
Waste Management posted net income of $155 million, or 31 cents per share, down from $241 million, or 48 cents, in the first quarter of 2008.
For the quarter ended March 31, revenue fell 14 percent to $2.81 billion, compared with $3.27 billion for the period in 2008.