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May 15, 2007
NEW YORK (AP) — Wall Street closed narrowly mixed Monday after investors, uneasy about the government's upcoming inflation data, cashed in some of their gains from the market's months-long rally.
Blue chip stocks managed a modest increase following DaimlerChrysler AG's announcement that it will sell 80.1 percent of money-losing Chrysler Group to Cerberus Capital Management LP, a private equity group, for $7.4 billion. The deal, which lifted stocks in the automotive sector, undoes a 1998 merger aimed at creating a global auto giant.
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