Forbes.com - Magazine ArticleApple To Unveil Video IPod
Annalisa Burgos, 10.05.05, 5:35 PM ET
In the headlines this afternoon, Apple Computer is expected to unveil a new Video iPod next week. Analysts say Apple will show off the new version of its popular digital-music player and performance upgrades to its Macintosh computers.
U.S. stocks ended lower as investors worried about inflation. The Dow plunged more than 123 points, while the Nasdaq fell 36 and the S&P 500 dropped 18.
The Institute of Supply Management said the U.S. services sector slowed, with its index at 53.3 in September, down from 65 in August. Meanwhile, the index of prices paid rose 14.3 points to 81.4, the highest level and the biggest jump for the index.
Oil prices fell to their lowest level in two months--below $63 per barrel--amid fears that the high cost of gasoline and other fuels is sapping demand.
In company news, Motorola (nyse: MOT - news - people ) is cutting 1,900 jobs. The cell phone maker said the layoffs will come from facilities in more than 20 countries.
Elsewhere, Pfizer (nyse: PFE - news - people ) got a boost after winning approval for its breast cancer drug Aromasin. U.S. regulators OK'd it for treating postmenopausal women already using the drug tamoxifen.
And on the Forbes.com Video Network, Frank Fahrenkopf, CEO of the American Gaming Association, says the gaming industry is doing all it can to help rebuild in the Gulf after Katrina.
That's it for today. Be sure to check out our special reports, and stay logged on to Forbes.com.
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