5 things you should never rent
With prestige items such as big-screen TVs, renting can cost more than twice the price of buying. But there are some things you should always rent.
Wall St. reconsiders techs
The technology sector has recaptured Wall Street's attention – at least for now – as investors Wednesday weigh company forecasts for the rest of the year and reports of further job cuts.Early signs pointed to a modest advance at the start of trading. The Nasdaq-100 futures pushed ahead, indicating a positive open for the Nasdaq market. Standard & Poor's futures were little changed, hinting at a flat start for the S&P 500 and Dow Jones industrial average.
U.S. plans online government payment system
The Clinton administration plans to launch an electronic system this fall that Americans can use to make a wide variety of payments to the government--from families paying for a national park camping license to corporations paying fines. The system, dubbed Pay.gov, "will be a one-stop shop for people to make government payments using the Internet," said the Treasury Department's deputy secretary, Stuart Eizenstat, announcing the initiative yesterday. The Pay.gov Internet site will be a secure, governmentwide electronic payment and collection system with the potential to handle any of the 80 million transactions the government now processes each year, Eizenstat said.
U.S. Stocks Fall on Concern Profit Will Slow More Than Expected
U.S. stocks fell for the third time in four days on concern profit growth will slow more than expected for the rest of the year. ``If we've seen the earnings peak in the first quarter, we've been spoiled, and we're going to see more companies disappointing'' as the year progresses, said Elizabeth Mackay, chief investment strategist at Bear, Stearns & Co. ``That rattles investors.'' The Nasdaq Composite Index fell 82.23, or 2 percent, to 3947.34. The Standard & Poor's 500 Index dropped 10.47, or 0.7 percent, to 1464.00. The Dow Jones Industrial Average declined 33.94, or 0.3 percent, to 10,666.03. Three stocks fell for every two that rose on the New York Stock Exchange.
Consumer confidence rebounded in July from a sharp drop last month, suggesting that consumers are optimistic that the U.S. economy is headed in the right direction. The Conference Board said today that its Consumer Confidence Index increased to 141.7 in July, up from 139.2 last month though well below the record of 144.7 set in January. Meanwhile, sales of existing U.S. homes rose in June to their highest level since August of last year, an industry trade group said today.
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