Hobbs
04-12-2007, 08:04 AM
April 12 (Bloomberg) -- U.S. stocks retreated for a second day after oil prices jumped and import prices in March climbed the most in 10 months, reviving concern inflation is accelerating.
Shares of General Motors Corp. and Citigroup Inc. led the Dow Jones Industrial Average lower. Research In Motion Ltd., the maker of the BlackBerry e-mail phone, tumbled the most in three months after its sales trailed analysts' estimates and the company disclosed a regulatory probe.
Minutes of the Federal Reserve's last policy meeting, released yesterday, said higher borrowing costs may ``prove necessary'' and gave no hint of an interest rate cut.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aDblHc2b1dOA&refer=home
Shares of General Motors Corp. and Citigroup Inc. led the Dow Jones Industrial Average lower. Research In Motion Ltd., the maker of the BlackBerry e-mail phone, tumbled the most in three months after its sales trailed analysts' estimates and the company disclosed a regulatory probe.
Minutes of the Federal Reserve's last policy meeting, released yesterday, said higher borrowing costs may ``prove necessary'' and gave no hint of an interest rate cut.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aDblHc2b1dOA&refer=home