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May 16, 2007

Housing woes keep stocks in check

NEW YORK (AP) — Wall Street gave up a huge advance and closed mixed Tuesday after an unimpressive snapshot of the housing market unsettled investors. The Dow Jones industrials, which surpassed 13,400 early in the session, slipped back but still eked out a record close.

Investors who initially bought enthusiastically following a tame reading on inflation decided to cash in some of their gains after the National Association of Homebuilders said its housing index dropped to 30 from 33 in April, indicating a deteriorating housing outlook.


 
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