Anatole
03-16-2007, 11:08 PM
March 16 (Bloomberg) -- An unexpected surge in inflation drove U.S. stocks to their first decline in three days and erased all of last week's rebound on concern the Federal Reserve is unlikely to lower interest rates this year.
American Express Co. and Citigroup Inc., whose profits rise when borrowing costs fall, sent the Dow Jones Industrial Average to its sixth weekly loss this year and worst start since 2003. Energy shares slid the most in the Standard & Poor's 500 Index, led by Exxon Mobil Corp., as oil reached a six-week low.
http://www.bloomberg.com/apps/news?pid=20601087&sid=afWw.IQ_Omi8&refer=home
American Express Co. and Citigroup Inc., whose profits rise when borrowing costs fall, sent the Dow Jones Industrial Average to its sixth weekly loss this year and worst start since 2003. Energy shares slid the most in the Standard & Poor's 500 Index, led by Exxon Mobil Corp., as oil reached a six-week low.
http://www.bloomberg.com/apps/news?pid=20601087&sid=afWw.IQ_Omi8&refer=home