U.S. stocks shift gears lower, led by financials

Date: Wed, 28 May 2008 12:03:13 -0400
U.S. stocks shift gears lower, led by financials

U.S. stocks on Wednesday start higher, extending gains into a second
day, as crude falls to a one-week low and April's orders for big-ticket
products show a milder-than-expected decline.

Futures Movers: Oil moves up, but struggles to hold ground at the $130
level

Crude-oil futures find their footing, reclaiming the $129-a-barrel mark,
although the market appears vulnerable to further selling.

Economic Report: Durable goods orders show resilience in April

New orders for U.S.-made durable goods fell not nearly as much as had
been anticipated in April, off 0.5%, as strength in electronics offset
an expected sharp drop in orders for airplanes and cars, Commerce
Department data show.

The Fed: U.S. economy steps back from abyss: Yellen

The Federal Reserve's frantic action since January to slash interest
rates and pour cash into financial markets has paid off, according to
San Francisco Fed President Janet Yellen.