U.S. stocks end lower on trouble in financial sector

Date: Tue, 17 Jun 2008 17:04:31 -0400
U.S. stocks end lower on trouble in financial sector

U.S. stocks hang up early gains, with financial shares leading the sharp
decline, after Goldman Sachs warns of further losses in the sector and
economic data fuels further fears about inflation and the troubled
housing market.

Economic Report: U.S. producer prices gain 1.4% in May as energy costs
surge

U.S. wholesale prices increase a larger-than-anticipated 1.4% in May,
after seasonable adjustments, with energy prices gaining by fully 4.9%
and food prices rising 0.8%, government data show.

Goldman Sachs' profit slips 10%; shares gain modestly

Goldman Sachs, widely considered to have weathered the current storm in
the financial markets better than its rivals, again reports quarterly
results topping those of competitors.

Wal-Mart cuts capital-spending outlook, repeats value message

Wal-Mart's cutting capital spending to help generate excess cash to
invest back in its business, while continuing to focus on offering the
best value to lure shoppers beset by higher gasoline prices, food costs
and other economic concerns, a top executive says.