U.S. stocks rise as oil backs off from record $135 level

Date: Thu, 22 May 2008 17:04:54 -0400
U.S. stocks rise as oil backs off from record $135 level

U.S. stocks finish higher on Thursday, regaining some ground after two
days of heavy losses, as investors cheered oil's drop from record highs
above $135 a barrel and upbeat jobs data.

Futures Movers: Oil futures end lower to mark the first loss in a week

Crude-oil futures fall from a record peak above $135 a barrel Thursday
to mark their first loss in a week, as traders took profits from a
four-session winning streak that lifted prices for the commodity by more
than 7%.

U.S. inflation understated due to trio of factors: Pimco's Gross

The U.S. government has been understating inflation, which has led
investors to misprice stocks, bonds and real estate, according to
bond-fund manager Bill Gross.

Ford shifts output toward cars, crossovers; profit view revised

Ford Motor Co. will cut production and expects to be about breakeven in
2009 on a pretax basis, excluding items, citing a delay in North America
Automotive profitability.

Economic Report: Home prices down 1.7% in first quarter, U.S. agency
says

U.S. home prices fall a seasonally adjusted 1.7% in the first three
months of 2008 -- the largest quarterly price decline on record as
tracked by the Office of Federal Housing Enterprise Oversight.