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DJ Dow Jones News Highlights Top Stories Of The Day


WEEKLY US JOBLESS CLAIMS RISE MORE THAN EXPECTED

Initial jobless claims climb by 11,000 to a three-week high of 365,000, and continuing claims rise by 44,000 to 3,385,000. Claims remain below 400,000 for ninth straight week, indicating a stable jobs market. Economists expected an increase of 4,000 claims.

WAL-MART NOV SAME-STORE SALES RISE 3.9%

Sales increase matches analyst expectations. Total sales rise 11.2% to $21.66 billion for the month. Sam's Club same store sales rise 4.7%, while Wal-Mart Stores gain 3.7%.

NO CHANGE IN OPEC OUTPUT CEILING

OPEC ministers settle on keeping output quotas unchanged for now, people familiar with group's deliberations say. They also say ministers will next meet on Feb. 10 in Algeria.

QUALCOMM RAISES 1Q GUIDANCE

Now sees EPS of 47c to 48c for fiscal 1Q ending Dec. 28, up 12% to 14% from year ago, based on estimated shipment of Mobile Station Modem phone chips and stronger-than-anticipated growth in CDMA markets.

QWEST FILES 1Q, 2Q REPORTS AFTER DELAY

Cash from operating activities jumps 46% to $837 million in 1Q, but first half cash from operating activities slips 7% to $1.275 billion. Reports were delayed while company completed restatement of its finances from 1998 through the first two quarters of 2003.

ARREST WARRANT ISSUED FOR LIBERIA'S TAYLOR

International police body Interpol issues global arrest warrant for ousted Liberian leader Charles Taylor, with a warning that he "may be dangerous." Taylor has been indicted for alleged war crimes by a U.N.-backed court in Sierra Leone.

ECB, BOE HOLD INTEREST RATES

ECB leaves key minimum bid rate at 2% - the lowest level in most euro-zone countries since World War II. BoE holds its securities repurchase rate at 3.75%. Both decisions were expected by the markets.

VIVENDI SEES US MUSIC UPTURN

Sales of recorded music in U.S. have risen over past 10 to 11 weeks compared with the same period last year, Vivendi Universal CEO says. Doesn't make it clear whether he is talking about the U.S. market or his own company's sales.

FORD NAMES PETER HORBURY DESIGN CHIEF

British designer has been responsible for company's Premiere Automotive Group, which includes Aston Martin, Jaguar, Land Rover and Volvo. Officials hope new designs and offerings will help pull it out of the financial doldrums.

GM JOINS BID FOR SOUTH KOREA'S SSANGYONG

Says will offer to buy controlling stake in South Korea's fourth-largest automaker. GM affiliate GM Daewoo is country's third-largest car maker. Media reports say there are at least seven bidders for company.

SAFEWAY SAYS CAN'T ESTIMATE STRIKE IMPACT

Supermarket chain expects to earn $1.95-$2.03 a share in '04, excluding effect of the strike by Southern California employees. Wall Street is looking for earnings of $2.05. A labor dispute has idled 70,000 workers since Oct. 11.

EUROPEAN SHARES MIXED BAG

Stocks mixed amid light corporate news, after ECB and BoE leave interest rates unchanged. Rates now expected to remain at 2% until end of 2005. Media issues lead FTSE slide on disappointing update from Reed Elsevier.

WHITE HOUSE PREPARES TO END STEEL TARIFFS

Bush administration allegedly planning to bulk up an existing import-licensing system to alert Commerce Department of any surges in steel imports and move strongly against steel dumping, after tariffs removed.

NORTHROP TEAM WINS $4.5B DEFENSE DEAL

Northrop Grumman and Raytheon win Pentagon contract to develop rocket capable of intercepting and destroying hostile ballistic missile within five minutes of its launch. Contract will last about eight years.

THYSSENKRUPP FULL-YEAR NET RISES

German company posts 2003 profit of $620.4 million, 58% above last year, beating analysts' expectations of $592.5 million, and proposes 25% full-year dividend increase. But cuts its 2004 full-year pretax profit target to $1.2 billion from $1.8 billion.

INTEL SEEN BOOSTING SALES, BUOYED BY PC DEMAND

Chip maker benefits from better-than-expected PC demand and analysts say firm is likely to raise its revenue range to between $8.3 billion and $8.7 billion, from previous range of $8.1 billion to $8.7 billion. Shares jump 1%.

ACTELION, MERCK ENTER POTENTIAL $272M CO-OP

Will work together to develop and market renin inhibitors, new class of hypertension drugs. Merck will pay Actelion $10 million upfront. Actelion will later be eligible for milestone payments of up to $262 million.

DELTA PILOTS' UNION OFFERS 9% CUT IN PAY

Offer should help the airline get its costs closer to those of its rivals and is a sign of progress in the difficult talks between the company and its only major union group.


======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======

CHARTING MARKETS
Crude Oil Futures To Firm Early

Crude technical levels unchanged, but intraday trading will have turned technically strong above 30.98.

FOREX FOCUS
More Fodder For Euro's Rise

Talk of capital controls for the euro at $1.35 will only fuel the single currency's advance. Rather than scare investors away, reports of a E.U. Commission study is only likely to be taken as evidence that current euro strength remains acceptable.

============ U.S. MARKETS ACTION ===========
DJIA 9873.42 from Wednesday.
NASDAQ 1960.25 from Wednesday.
S&P 500 1064.73 from Wednesday.
10-year T-note up 1/32 at 98 25/32 yield 4.400
NYMEX Spot Crude down $0.36 at $30.75/bbl
Dollar/Euro down 0.0012 at 1.2096



(END) Dow Jones Newswires

12-04-03 0900ET- - 09 00 AM EST 12-04-03