Wednesday, February 20, 2008
U.S. stocks sink as data signal rise in inflation
U.S. stocks sink as data signal rise in inflation
U.S. stocks plunge after consumer prices climb more than analysts had
expected, heightening worries that rising inflation could restrict
future interest-rate cuts by the Federal Reserve.
Economic Report: U.S. retail-level inflation runs hotter than expected
in January
Inflation remained hot in January, led by large increases in energy and
food prices, but also in a host of underlying core prices, the
government said.
Futures Movers: Crude futures slip 1%, back below $100 a barrel
Crude-oil futures fall 1%, giving up some of their strong gains from the
previous session when the key energy contract closed above $100 a barrel
for the first time.
Sale of 3Com to Bain, Huawei stymied over security concerns
WASHINGTON
Concerns about national security could scuttle the $2.2 billion sale of
networker 3Com Corp. to a U.S. private-equity firm and its Chinese
partner.
Hewlett-Packard shares jump on results, raised outlook
Shares of Hewlett-Packard Co. jump as much as 7% after posting strong
results for its first fiscal quarter and raising its forecast for the
year.
