Tuesday, June 5, 2007

U.S. Stocks Fall After ISM Sends Bond Yields Up; AT&T, Exelon Shares Drop

(Bloomberg) -- U.S. stocks dropped after growth in
the service industry accelerated faster than expected, pushing
the yield on the 10-year Treasury note to a nine-month high.

AT&T Inc. and Exelon Corp. led shares of telephone
companies and utilities to the steepest drops among 10 industry
groups, as rising bond yields make stocks with high dividends
less attractive. Bed Bath & Beyond Inc., the largest U.S. home-
furnishings chain, had the biggest fall in the Standard & Poor's
500 Index after it said earnings will trail its forecast and
Federal Reserve Chairman Ben S. Bernanke warned the housing
slump will continue longer than anticipated.


Read more at Bloomberg Stocks News

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