Wall Street waits...Neutral Fed?...Trade gap grows...Skyscraper sold
Updated at 5:35 pm (11-20-2001)

New York-AP -- Stock prices are mostly higher on Wall Street as investors wait out a Federal Reserve meeting on interest rates. Financial shares are doing well after Goldman Sachs topped estimates with its latest earnings report. And Dow component Procter and Gamble raised its earnings outlook.

Washington-AP -- Most economists believe the Federal Reserve will leave interest rates unchanged during today's policy session. The financial world also expects the central bank to shift to a neutral policy directive, meaning they feel the risks to the economy are equally balanced between recession and inflation.

Washington-AP -- America's trade deficit grew by 15 percent in January to 28 and a-half (b) billion dollars. The Commerce Department blames the growing imbalance on an increasing foreign oil bill. U-S exports fell to the lowest level in more than three years.

Hamilton, Bermuda-AP -- Accenture says it plans to sell some investments that have been a drag on earnings, recording a loss on the sale. The management-consulting company that used to be part of Arthur Andersen also has raised its second-quarter outlook, but its shares are down more than five percent today.

New York-AP -- An investor group that holds the lease on the Empire State Building reportedly has agreed to purchase the skyscraper from Donald Trump and his partner. Published reports say the group, Empire State Building Associates, will pay 57 and a-half (m) million dollars for the 102-story landmark.


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