U.S. stocks open under pressure on financials, inflation woes

Date: Mon, 04 Aug 2008 12:03:01 -0400
U.S. stocks open under pressure on financials, inflation woes

U.S. stocks open lower with concerns about financials fueled by HSBC
Holdings' $10 billion worth of bad debt, and as data rekindled inflation
worries a day ahead of the Federal Reserve's decision on interest
rates.

Futures Movers: Oil falls below $120 as U.S. data weigh on demand
prospects

Crude-oil futures retreat more than 1% as goverment data show the worst
U.S. inflation in 27 years and rekindle worries about the world's
largest economy. Tropical Storm Edouard tracks west in the Gulf of
Mexico.

Economic Report: Worst inflation in 27 years trumps tax rebates, U.S.
data show

The windfall of cash from Washington in June got eaten up by the worst
inflation in 27 years, Commerce Department data shows.

HSBC profit slides 29% as bad-debt charges top $10 billion

First-half net income drops 29% for banking giant HSBC as bad-debt
charges surge past $10 billion, while profit also tumbles for Fortis.