NewsMine — economy — united-states — 2005 — 2005-aug-oct — Viewing Item

Stocks fall on inflation and energy worries { August 16 2005 } Original Source Link: (May no longer be active)    http://www.signonsandiego.com/news/business/20050816-1318-wallstreet.html http://www.signonsandiego.com/news/business/20050816-1318-wallstreet.html Stocks fall on inflation and energy worries By Michael J. Martinez ASSOCIATED PRESS 1:18 p.m. August 16, 2005 NEW YORK – Stocks tumbled after Wal-Mart Stores Inc. said higher gasoline prices curbed customer spending. The news sent many retail stocks lower, while government data showing a larger-than-expected jump in inflation also dampened investor enthusiasm. Wall Street is facing increasing evidence that high energy prices, spurred by record crude oil futures, are nipping consumer spending. Wal-Mart stock drooped after the company blamed lower quarterly revenues on higher gasoline prices. Shares of other retailers, including Target Corp., Home Depot Inc. and Limited Brands Inc. dropped as well. "We are starting to see the bite from some of the risks that have been lurking in the background, like oil," said Hans Olsen, managing director and chief investment officer at Bingham Legg Advisers. "I think it's going to continue to be tougher for this market to do anything positive." Investors also fretted over the latest reading of the Labor Department's Consumer Price Index, which rose 0.5 percent in July – the biggest increase in three months and larger than the 0.4 percent hike economists had expected. With food and energy prices removed, "core" CPI rose 0.1 percent. According to preliminary calculations, the Dow Jones industrial average fell 120.93, or 1.14 percent, to 10,513.45. Broader stock indicators also lost ground. The Standard & Poor's 500 index fell 14.53, or 1.18 percent, to 1,219.34, and the Nasdaq composite index fell 29.98, or 1.38 percent, to 2,137.06.

2 billion a day mainly from china to keep usa going 75 perc americans worried about job market { August 15 2005 } Americans record high credit card bills overdue Americans renting more instead of buying { August 25 2005 } Aug 2005 home resales prices unexpectedly surged Chinese scholars warn on wealth gap Consumer setiment drops after katrina Dallas federal reserve says inflation near intolerable Dollar falls in july with low retail sales Dollar header for biggest two day decline Economy sheds jobs in september Fed raises short term rate 10th time { August 10 2005 } Greenspan housing warning hits shares Greenspan warns of drop in housing prices Housing market slows in hot market cities { October 4 2005 } Katrina inflation concerns send gold 17 year high Labor costs rise with inflation concerns Poverty rate rises to 13 percent { August 30 2005 } Producer price surge biggest in 15 years Scientific testing equipment company lays off 1300 Stocks fall on inflation and energy worries { August 16 2005 } Stocks fall on slow services industry { September 2005 } Stocks falls after fed boosts rates post katrina Treasuries fall over inflation concerns Two major airlines filing for bankruptcy { September 14 2005 } Whitehouse plays down labor dept inflation report Files Listed: 26

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