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Dow rises on housing data, but Nasdaq dips (Reuters)

Michael Messmer (L) and Arthur Mallo work in the Euro Options Pit at the Chicago Mercantile Exchange June 12, 2006. (John Gress/Reuters)Reuters - U.S. blue-chip stocks rose on Tuesday, led by gains in Caterpillar Inc. , as stronger-than-expected housing data eased concerns about an economic slowdown.




Housing starts rise 5 percent (Reuters)

Workers pour a concrete foundation in front of an unfinished housing development in a Denver, Colorado suburb April 19, 2005. The pace of U.S. housing construction rose more than expected in May after three months of declines as groundbreaking on both single-family and multifamily units jumped, a government report showed on Tuesday. (Rick Wilking/Reuters)Reuters - The pace of U.S. housing construction rose more than expected in May after three months of declines, but permits for future projects fell, a government report showed on Tuesday.




Military move on Iran could triple oil price: Saudi (Reuters)

A driver waits for the tank of his car to be filled at a gas station in Nanjing, capital of east China's Jiangsu province May 24, 2006. World oil prices could triple if the diplomatic standoff over Iran's nuclear program escalates into a military conflict, Saudi Arabia's ambassador to the United States said on Tuesday. (Sean Yong/Reuters)Reuters - World oil prices could triple if the diplomatic standoff over Iran's nuclear program escalates into a military conflict, Saudi Arabia's ambassador to the United States said on Tuesday.




GM's ratings cut deeper into junk territory (Reuters)

General Motors corporation Chairman and Chief Executive Officer G. Richard Wagoner Jr. speaks at the GM annual shareholders meeting in Wilmington, Delaware June 6, 2006. General Motors Corp. on Tuesday had its debt rating slashed deeper into junk territory by two major rating agencies after the automaker said it was offering banks collateral to renew a credit facility. (Tim Shaffer/Reuters)Reuters - Two major rating agencies cut General Motors Corp.'s debt rating deeper into junk territory on Tuesday after the automaker said it was offering banks collateral to renew a credit facility.





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