Dow Halts Seven-Day Rally as Oil Gain Bolsters Inflation Concern
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The Dow Jones Industrial Average snapped a seven-day gain after an increase in oil and consumer prices sparked inflation concern as the economy improves.
Energy shares had the biggest advance among 10 groups in the Standard & Poor’s 500 Index. Noble Corp. and Chesapeake Energy Corp. increased more than 2.5 percent. The Bloomberg U.S. Airlines Index slumped 3 percent amid expectations about higher fuel prices. Bank of America Corp. jumped 6.1 percent, surging 23 percent in four days. Apple Inc. ended almost unchanged as the company started selling the new iPad.