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Stocks slide...Gas drives consumer prices higher...Factory output rises

Friday - 3/15/2013, 12:09pm  ET

NEW YORK (AP) -- The Dow's 10-day winning streak is in danger. Stocks are lower in early trading on Wall Street. Yesterday's close at 14,539.14 marked the first time since November 1996 that the Dow knocked out 10 straight days of gains.

WASHINGTON (AP) -- A spike in the cost of gasoline is behind the largest jump in consumer prices in more than three years. The Labor Department says consumer prices increased a seasonally adjusted seven-tenths of a percent in February from the month before. Three-fourths of the increase reflected a 9.1 percent surge in gas prices. Food prices rose just a tenth of a percent. For the 12 months that ended in February, prices increased 2 percent.

WASHINGTON (AP) -- Factories are ramping up production. The Federal Reserve says overall industrial production rose seven-tenths of a percent in February, the most in three months. Demand for cars helped drive factory output up eight-tenths of a percent. Production of autos and auto parts rose 3.6 percent after falling 4.9 percent in January.

WASHINGTON (AP) -- A former top executive for JPMorgan Chase is blaming last year's $6.2 billion trading loss on other executives at the firm. In remarks prepared for a Senate committee hearing, the firm's former chief investment officer overseeing trading strategy says her oversight was "undermined" by executives who failed to control risk out of the London office and hampered her abilities to prevent the losses.

DEARBORN, Mich. (AP) -- Ford's chief executive has seen his compensation drop as the company enjoyed record North American profits but heavy losses in Europe and lower market share in the U.S. and elsewhere. Alan Mulally (muh-LAHL'-lee) made $2 million in salary last year, the same as 2011. But his bonus fell 27 percent to $1.3 million and his stock awards dropped by half to $6.8 million. He received $7.5 million in stock options.

MIAMI (AP) -- There's some good news for the world's largest cruise line amid some high-profile problems. Carnival Corp. says it returned to a profit in its first quarter, earning $37 million after losing $139 million a year earlier. But the company's forecast for this year came in below analysts' predictions. Last month an engine fire crippled the Carnival Triumph, leaving 4,200 people stranded for five days without working toilets or power. This week, two more of its ships have had mechanical problems.


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