Mixed day for US stocks

Wall Street had a mixed day after investors, uneasy about the US government’s forthcoming inflation data, cashed in some of their gains from the market’s months-long rally.

Blue chip stocks managed a modest increase, thanks to DaimlerChrysler AG’s announcement that it will sell 80.1% of money-losing Chrysler Group to Cerberus Capital Management LP, a private equity group, for $7.4bn (€5.46bn).