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  • Stocks Close Higher Despite Late Pullback Wednesday, 14 May 2008 | 4:28 PM ET

    Stocks finished higher Wednesday, despite profit-taking in the last half-hour of trading, as Wall Street cheered what appeared to be a tame inflation reading.

  • Oil Prices End Down Near $124 as U.S. Supply Rises Wednesday, 14 May 2008 | 3:33 PM ET

    U.S. light, sweet crude for June delivery fell $1.58 to settle at $124.22 a barrel Wednesday on the New York Mercantile Exchange.

  • CPI Report Buoys Stocks; S&P Nears 1420 Wednesday, 14 May 2008 | 2:22 PM ET

    Stocks opened higher Wednesday after a better-than-expected reading on inflation.

  • Distressed Diesel Prices

    Energy prices are flat. Gasoline prices have fallen. What country is the Labor Department talking about? Certainly not the U.S. or New York or Alaska or many other parts of the country where gasoline prices are near or have surpassed $4 a gallon.

  • Tame Inflation? Tell That To People Buying Gasoline Wednesday, 14 May 2008 | 1:23 PM ET
    New York Gas Prices at $4 per gallon

    In the real world, gasoline prices surged 5.6% in April, but the government smooths out seasonal oddities so prices appeared lower in Wednesday's inflation report.

  • Fed's Tools Won't Fix Housing Crisis: Pimco's El-Erian Wednesday, 14 May 2008 | 11:49 AM ET

    Bond fund leader Pimco's Mohamed El-Erian on Wednesday said the Federal Reserve does not have the tools to deal with the U.S. housing crisis and rapidly rising consumer prices, leaving it to lawmakers to avert a severe recession.

  • Inflation Stats Buoy Stocks; AMAT Skids Wednesday, 14 May 2008 | 11:42 AM ET

    Stocks opened higher Wednesday after a better-than-expected reading on inflation.

  • Ex-Fed Chief Volcker Sees 70's-Style Stagflation Wednesday, 14 May 2008 | 11:03 AM ET
    Former U.S. Federal Reserve Chairman Paul Volcker

    Former Federal Reserve Chairman Paul Volcker Wednesday said the central bank's role in overseeing financial markets needs to be more clearly defined and the that of rating agencies, sovereign wealth funds and hedge funds in the financial crisis should be weighed.

  • Dollar Rebounds Versus Euro as Stocks Rise Wednesday, 14 May 2008 | 10:12 AM ET

    The dollar rebounded against the euro Wednesday as U.S. stocks extended gains and shrugged off a report showing tame reading on U.S. consumer prices in April.

  • Tax Rebate Will Only Stall, Not Stop Recession Wednesday, 14 May 2008 | 9:47 AM ET
    Tax Refund Check

    The U.S. economy is in a recession and stimulus from a government tax rebate later this quarter will only temporarily stem a fall in consumer spending, a Merrill Lynch economist said on Wednesday.

  • UK's Brown Reveals Plans to Help Housing Market Wednesday, 14 May 2008 | 9:00 AM ET
    British Prime Minister Gordon Brown.

    Prime Minister Gordon Brown, seeking to reverse a slump in popularity, offered help on Wednesday for Britain's troubled housing market.

  • Consumer Inflation Tamer Than Expected in April Wednesday, 14 May 2008 | 8:34 AM ET

    Consumer prices rose a smaller-than-expected 0.2 percent in April as energy prices held steady, a Labor Department report on Wednesday showed.

  • Asian Markets End Mostly Higher, Financials Slip Wednesday, 14 May 2008 | 6:07 AM ET

    Asian markets turned mostly higher after a lackluster start Wednesday. Both Japan and Australia closed the session 1 percent higher.

  • Fed May Start Fighting Asset Bubbles: FT Wednesday, 14 May 2008 | 3:55 AM ET

    The Federal Reserve may start using regulation or even interest rates to fight asset-price bubbles, instead of trying to limit the damage once they burst, as it has done until now, the Financial Times reported on its Web site.

  • China's April Industrial Output Slows to 15.7% Tuesday, 13 May 2008 | 11:32 PM ET
    China, Chinese Flag

    Chinese retail sales powered ahead in April, providing welcome evidence for policy makers that sturdy domestic demand is taking up slack in the economy left by softening exports.

  • Dollar Rises vs. Euro, Yen on Strong Retail Tuesday, 13 May 2008 | 5:15 PM ET

    The U.S. dollar rallied broadly Tuesday after a report on April retail sales beat forecasts and supported views that the Federal Reserve will probably stop cutting interest rates next month.

  • Bernanke Says Crisis Not Over; Prices Worry Others Tuesday, 13 May 2008 | 4:04 PM ET
    Ben Bernanke

    U.S. Federal Reserve Chairman Ben Bernanke said the credit crisis is not over, even as his colleagues revealed growing concerns about inflation that could signal a pause in interest rate cuts.

  • Fed's Yellen: Interest Rates at Appropriate Level Tuesday, 13 May 2008 | 1:17 PM ET

    San Francisco Federal Reserve Bank President Janet Yellen said Tuesday the current level of U.S. interest rates should boost the economy in the second half of 2008.

  • Oil Prices Finish Volatile Day Just Below $126 Tuesday, 13 May 2008 | 1:07 PM ET

    Oil prices didn't set a Nymex closing record Tuesday, but they came very close.

  • Stocks Are Facing Key Test As Investors Seek Stability Tuesday, 13 May 2008 | 1:04 PM ET
    New York Stock Exchange (NYSE)

    A week packed with economic data, retail earnings and plenty of Fedspeak could finally give the stock market something it desperately needs: Stability.

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