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On Your Birthday This
is a list of notable items that occurred on the twins birthday
(June 24, 2003)
High Temperature: 91 (Normal is 86)
Low Temperature: 76 (Normal is 65)
Precipitation: None
Stock Market Snapshot for June 24, 2003
Stocks Close Mostly Higher
The major indexes drifted in a narrow range as investors awaited
Wednesday's
decision on interest rates by the Federal Reserve
U.S. stocks finished mixed Tuesday, with blue chips posting gains
while tech
issues moved lower. The major indexes drifted in a narrow range
for most of
the session as investors awaited the outcome of the Federal
Reserve's
two-day policy meeting in Washington, D.C., which will wrap up
Wednesday
afternoon.
The Dow Jones industrial average climbed 36.90 points, or 0.41%,
to close at
9,109.80. The broader S&P 500 index also edged up just 1.80
points, or
0.18%, to close at 983.44. The tech-heavy Nasdaq composite slipped
from its
earlier recovery, and closed in the red, down 5.24 points, or
0.33%, at
1,605.51.
The biggest movers of the day were companies with asbestos
liabilities,
which all rose sharply after a Senate agreement that may hasten
passage of a
bill limiting future liabilities. Underperforming sectors included
oil &
gas, computer networking, and gold mining, as the price of the
precious
metal slumped over $5 per ounce to the $340 level.
Market opinion is fairly unanimous on the likelihood of a rate cut
Wednesday, but Wall Street remains divided on whether Alan
Greenspan & Co.
will lower the Fed funds target rate by 25 or 50 basis points.
Standard &
Poor's continues to expect a rate cut of 25 basis points. "The
market is
probably on hold until it gets a decision on interest rates
tomorrow," says
S&P's MarketScope.
Looking ahead to Wednesday's assumed rate cut by the Fed, market
strategist
Art Hogan, at Jefferies & Co. says that with the 25 basis point
cut already
priced into the market, "at the very least the market won't move,
and will
be benign on Wednesday."
While the Fed occupied the spotlight, some economic reports vied
for the
market's attention Tuesday. Consumer confidence for June was down
slightly
to 83.5, from the revised May figure of 83.6. The BTM-UBS retail
chain store
sales index rose by 0.6% for the week ended June 21, up from 0.3%
the prior
week.
Famous June 24th Birthdays
June 24, 2003
Emma and
Jacob
June 24, 1935
Pete
Hamill - US Journalist
June 24, 1916
John Ciardi - English Writer
June 24, 1915
Sir Fred Hoyle - English Astronomer
June 24, 1912
Norman Cousins - US Writer
June 24, 1895
Jack Dempsey - American boxer
June 24, 1842
Ambrose Bierce - US Writer
June 24, 1831
Rebecca Harding Davis - US Writer
June 24, 1813
Henry Ward Beecher - US Writer
June 24th in History
On June 24, 1901, the first major exhibition of Pablo Picasso's
artwork opens at a gallery on Paris' rue Lafitte, a street known
for its prestigious art galleries. The precocious 19-year-old
Spaniard was at the time a relative unknown outside Barcelona, but
he had already produced hundreds of paintings. The 75 works
displayed at Picasso's first Paris exhibition offered moody,
representational paintings by a young artist with obvious talent.
On June 24, 1862, President Abraham Lincoln meets with retired
General Winfield Scott, a hero of the Mexican War and the
commander of all Union forces at the outbreak of the Civil War.
Scott, aged and infirm, still possessed a sharp military mind.
More important, he was one of the few impartial advisors
surrounding Lincoln.
On June 24, 1948 the Soviets blockade West Berlin creating one
of the most dramatic standoffs in the history of the Cold War.
The blockade turned out to be a terrible diplomatic move by the
Soviets, while the United States emerged from the confrontation
with renewed purpose and confidence.
On June 24, 1864 Colorado Governor John Evans warns that all
peaceful Indians in the region must report to the Sand Creek
reservation or risk being attacked, creating the conditions that
will lead to the infamous Sand Creek Massacre.
On June 24, 1970 on an amendment offered by Senator Robert Dole
(R-Kansas) to the Foreign Military Sales Act, the Senate votes 81
to 10 to repeal the Tonkin Gulf Resolution. In August 1964, after
North Vietnamese torpedo boats attacked U.S. destroyers (in what
became known as the Tonkin Gulf incident), President Johnson asked
Congress for a resolution authorizing the president "to take all
necessary measures" to defend Southeast Asia. Subsequently,
Congress passed Public Law 88-408, which became known as the
Tonkin Gulf Resolution, giving the president the power to take
whatever actions he deemed necessary, including "the use of armed
force." The resolution passed 82 to 2 in the Senate, where Wayne
K. Morse (D-Oregon) and Ernest Gruening (D-Alaska) were the only
dissenting votes; the bill passed unanimously in the House of
Representatives. President Johnson signed it into law on August
10. It became the legal basis for every presidential action taken
by the Johnson administration during its conduct of the war.
On June 24, 1945, Soviet troops parade past Red Square in
celebration of their victory over Germany. As drums rolled, 200
soldiers performed a familiar ritual: They threw 200 German
military banners at the foot of the Lenin Mausoleum. A little over
130 years earlier, victorious Russian troops threw Napoleon's
banners at the feet of Czar Alexander I.
On June 24, 1497 an English expedition led by
John Cabot makes the first recorded sighting of North America
by a European, landing at what may have been Cape Breton Island.
On June 24, 1947 an American pilot reports seeing objects he
describes as "saucers" flying near Mount Rainier in Washington,
leading to the popular term "flying
saucers."
On June 24, 1964 the Federal Trade Commission requires that a
message be placed on all cigarette packages that warns consumers
that cigarette smoking is dangerous to their health.
On June 24, 1314 in the Battle of Bannockburn, the decisive
victory for Scottish independence, forces led by Robert Bruce,
king of Scotland, defeat the troops of English king Edward II.
On June 24, 1922 German nationalists assassinate foreign
minister Walther Rathenau, a German Jew, in response to his policy
of paying reparations for Germany's role in World War I.
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