Author: 123jump.com Staff
123jump.com
Last Update: 6:12 PM EDT August 01 2006

Fears of inflation were back on market with the release of consumer spending report. Commerce Department reported that consumer prices are up 2.4% from a year ago so far for this year, highest since inflation rate in April 1995. Another month and another loss of a market share for domestic auto makers. Ford and Chrysler reported a steep decline in auto sales in July from a year ago. Oil climbed back above $75 per barrel. Vodafone refused to sell its take in Verizon back to the company.