Market Gawk

WASHINGTON (MarketWatch) — Sen. John McCain, under fire from some conservatives for opposing President Bush’s tax cuts in 2001 and 2003, acknowledged on Sunday that he wouldn’t let those cuts expire. Speaking on Fox News Sunday, the presidential candidate said that allowing them to expire would amount to a tax increase. ”I oppose tax increases,” said McCain, an Arizona senator. McCain has said he voted against Bush’s tax cuts because they weren’t coupled with spending restraints. Those cuts expire in 2011. In a broad-ranging interview, McCain also said he’d confer with Democrats to fix the Social Security program and dismissed concerns that he is too old for the White House. McCain is 70. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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SAN DIEGO (MarketWatch) — The latest round of quarterly earnings has included a bumper crop of companies that turned in much better-than-expected results. Are executives using tricks to game expectations and give their stocks a bump?

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SAN FRANCISCO (MarketWatch) — California highway authorities said a 250-yard section of a key Bay Area freeway interchange collapsed early Sunday after a truck hauling gasoline crashed in a fiery accident just east of San Francisco. Flames from the tanker explosion brought down the upper deck of a three-lane connector between Interstate 80 and Interstate 580, California Highway Patrol officers told KNTV-TV. The driver of the truck, carrying about 8,600 gallons of unleaded gasoline, sustained second-degree burns in the predawn crash, but there were no other injuries reported. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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WASHINGTON (MarketWatch) — The chief executive of ABN Amro is at risk of losing his job after the Dutch bank reversed course and allowed a takeover consortium to access its books, according to a media report.

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State-by-state skirmishes over open-source document formats represent the latest showdown in a long-running, and so far unsuccessful, campaign to topple Microsoft’s sheer dominance of the desktop software application market. Outside of Florida, four other states since January have seen language similar to Homan’s included in proposed bills.

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WASHINGTON (MarketWatch) — Sen. John McCain said Sunday he won’t support tax increases if he’s elected president but defended votes he made in 2001 and 2003 against President Bush’s tax cuts.

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SHANGHAI (MarketWatch) — Chinese Internet portal Sohu.com will report earnings on Tuesday, smack in the middle of China’s week-long Labor Day national holiday period, and investors are clearly expecting to see a boost from a very early start to the 2008 Olympics advertising season.

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MUMBAI (MarketWatch) — Investors in Tata Tea Ltd. may have heaved a sigh of relief in the past week after its shares were boosted by an unconfirmed report in U.S. media that Coca Cola Co. is eyeing an acquisition of enhanced-water brand Glaceau.

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The euro climbed to an all-time high against the dollar Friday as weak U.S. growth figures reinforced fears of a widening economic disparity between Europe and the United States.

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U.S. Treasury Deputy Secretary Robert Kimmitt said he would not comment on the weakness of the U.S. dollar on Saturday after the currency slid to a record low against the euro on Friday.

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