NEW YORK - Wall Street traded mostly higher Tuesday, briefly pushing the Dow Jones industrials into record territory after a rise in home construction and a mild reading on consumer inflation encouraged investors to buy. Many investors were heartened by the Commerce Department's report that March housing starts rose 0.8 percent - a feeble rise compared with February's 7.6 percent advance, but much better than the drop investors expected. The Dow traded as high as 12,790.02, passing its closing high of 12,786.64 set Feb. 20, and approached its trading high of 12,795.93, reached the same day. The Dow rose 52.58, or 0.41 percent, to 12,773.04. Broader stock indicators were mixed. The Standard & Poor's 500 index rose 3.01, or 0.20 percent, to 1,471.48, while the Nasdaq composite index fell 1.38, or 0.05 percent, to 2,516.95. Advancing issues outnumbered decliners by about 3 to 2 on the New York Stock Exchange, where volume came to 1.57 billion shares. Bonds rose following the inflation data, which could give the Fed more room to lower rates. Also heightening that possibility, the Federal Reserve reported Tuesday that March utility production dropped by 7 percent, offsetting a rise in factory production. The yield on the benchmark 10-year Treasury note fell to 4.69 percent from 4.74 percent. Gold prices slipped. The dollar neared all-time lows versus the euro, and dropped to a 15-year low against the British pound. The dollar's weakness has been brought on by the U.S. economy and interest rates rising less than in other countries. Crude oil prices fell 51 cents to settle at $63.10 a barrel on the New York Mercantile Exchange. The Russell 2000 index of smaller companies slipped 2.48, or 0.30 percent, to 828.96. The index reached an intraday high of 831.71 during the session.
Center for Digestive Wellness accredited
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KINGSPORT - The Center for Digestive Wellness has achieved accreditation by the Accreditation Association for Ambulatory Health Care, said center owners Dr. Jeffrey Fenyves and Dr. Stephen Fry. Status as an accredited organization means The Center for Digestive Wellness has passed a series of rigorous and nationally recognized standards for the provision of quality health care. More than 2,600 ambulatory health care organizations across the United States are accredited by the AAAHC. "Accreditation underscores our long-standing commitment to providing the highest possible levels of quality care to the community we serve," said Fenyves. "We are pleased and proud to have our efforts recognized with this accreditation." Ambulatory health care organizations seeking accreditation by the AAAHC undergo an extensive on-site, peer-based survey of their facilities and services. The Center for Digestive Wellness, located in the Northeast Tennessee Business Park near Tri-Cities Regional Airport, is a state-of-the-art endoscopy center founded in 2002 by Fenyves and Fry and supporting several regional clinics.
Absolute wins advertising awards
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KINGSPORT - Absolute Communications recently earned two awards from the Service Industry Advertising Awards for creative excellence. Absolute received a Silver Award in the Calendar category for the 2007 Greenbelt calendar, a collaborative effort with the Kingsport Parks and Recreation Department. The second award was a Merit Award in the Publications/External category for work with the East Tennessee State University Alumni Association on the fall 2006 issue of ETSU Today magazine, which goes to all ETSU alumni. "These awards demonstrate our firm's commitment to providing world-class design and marketing services to our customers," said Carolyn Pierson Cook, president of Absolute Communications. "We are proud of this recognition, but our ultimate measure of success comes when we exceed our clients' expectations." A national panel of judges evaluated and rated the entries using several criteria. Each entry in the awards program is judged on execution, creativity, quality, consumer appeal and overall breakthrough advertising content. Absolute Communications is a full-service advertising, marketing and public relations firm located in Kingsport. Cook founded the company in 1993. Absolute supports clients throughout the United States and Canada in a number of business sectors including health care, home improvement products, banking, human resource services and manufacturing.