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MCI WON court approval to emerge from Chapter 11 bankruptcy protection over strong objections from rivals who argued the telecommunications company engaged in illegal conduct. Four more states dropped Putnam Investments as the manager of retirement funds for state workers, becoming the latest clients to spurn the firm amid a trading probe. A federal judge approved the SEC's $1.4 billion settlement with 10 Wall Street firms, calling it "fair, reasonable and adequate." Aggrieved investors are expected to receive $399 million. Russia's prime minister expressed concern over the freezing of Yukos shares in apparent defiance of President Putin, who has appealed to the cabinet not to meddle in the case. Some seized shares were freed Friday. * * * ChevronTexaco swung to a profit on higher oil prices and improved refining margins. The company plans to lay off 2,000 employees in a bid to streamline its marketing and refining businesses. * * * Consumer spending fell 0.3% in September, reflecting a drop in auto sales. In two separate reports, consumer sentiment nationwide and activity in Chicago's manufacturing sector improved in October. * * * U.S. stocks closed mostly higher Friday as investors wrapped up a month chock full of positive surprises, stronger earnings reports and better economic data. The Dow industrials ended up 14.51 points at 9801.12, while the Nasdaq composite slipped 0.48 to 1932.21. * * * Freddie Mac expects to owe as much as $30 million in back taxes once it completes its earnings restatement from 2000 through 2002, the company said in a letter to a lawmaker this week.

Inside Today

The Daily Fix

The Red Sox open up a new front in the war against their old nemesis.

Order in the Court
Reporter's notebook: Who really runs the show in the Tyco trial.

Dangers in Babysitting
Second tour in child care may be hazardous to a grandmother's health.

Question of the Day
Are you confident the government could respond to a major terrorist attack?

Markets

Sponsored by
*at close	7:20 pm EST

DJIA *	9801.12	14.51

Nasdaq *	1932.21	-0.48

S&P 500 *	1050.71	3.77

Japan *	10559.59	-135.97

DJ Stoxx 50 *	2537.84	3.15

Source: Dow Jones, Reuters

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Additional information on stories published in the print edition of The Wall Street Journal:
Macro Investor: Empty stockrooms and bare shelves may bode well for the economic recovery, Steve Liesman says, as manufacturers rebuild inventories to meet continued demand. Also, see excerpts from economists' reports on the GDP data and graphs showing the current state of the economy. Stat Snapshot: Jokes on celebrities bring MTV a serious following; and the NFL is back atop the cable ratings. Harris Poll: A new Harris Poll found Democrats Lieberman, Clark, Dean and Kerry in a statistical dead heat to gain their party's presidential nomination. "Undecided" won hands down.
Editors' Picks: A selection of articles chosen by the Online Journal as some of the best reads of the day. Read how many high-end designers are ignoring one of the year's biggest holiday fashion stories: booming online clothing sales; and why babysitting may be dangerous to grandma's health.