U.S. stocks turn higher as oil resumes decline

Date: Thu, 14 Aug 2008 12:03:08 -0400

U.S. stocks turn higher as oil resumes decline

U.S. stocks climb for the first day in three, with the financial sector
fronting the gains, as investors brush aside negative economic data to
focus on recent dips in the price of commodities.

Economic Report: Consumer prices mark biggest on-year climb since 1991

U.S. consumer prices jump a greater-than-expected 0.8% in July, marked
by big increases in energy, food, clothing and cigarettes. On year, the
price index runs a 5.6% increase, the largest in 17 years.

Wal-Mart profit climbs 17%; company sounds caution

Wal-Mart Stores Inc. reports a 17% profit rise in second-quarter profit
and ups its annual earnings goal as bargain-hunting shoppers, hurt by
the rising cost of food and gasoline, flocked to the retailer's stores
known for their low prices.

British Air, American, Iberia seek approval for partnership

British Airways, American Airlines and Iberia say they will ask U.S. and
European regulators for permission to create a joint venture that would
see them cooperate on fares, routes and schedules across the Atlantic.
.

Asia Markets: Shanghai, Tokyo drop again; Hong Kong rebounds

Asian markets ended mixed Thursday after a volatile session, with
commodity stocks such as BHP Billiton and Cnooc soaring on a strong
rebound in crude-oil prices, while real estate shares broadly declined.