Militants in Nigeria are planning a major new wave of attacks and kidnappings in the next few days that could include up to 20 simultaneous bombings across the country’s oil-rich delta region, US diplomats warned today.

Inflation fears sent stocks plunging in the United States today as jitters over high oil prices exacerbated signals that the Federal Reserve will keep lifting interest rates to contain price increases.

Stocks rallied sharply today, with the Dow Jones industrials gaining 172 points on better-than-expected gross domestic product growth last quarter despite the disruptions caused hurricanes Katrina and Rita. The major indexes finished an erratic week higher.

Most US stocks closed higher today after Federal Reserve Chairman Alan Greenspan said the economy has weathered the increase in oil prices “reasonably well”.

Wall Street surged higher today, carrying the Russell 2000 to a record close as Wall Street welcomed encouraging economic data and a continuation of double-digit corporate earnings growth.

Wall Street finished an uninspired session mixed today as a new record high in oil prices was partly offset by a better-than-expected reading of the nation’s industrial activity and strong sales at Wal-Mart Stores Inc.