American stocks slipped today as investors awaited the US Labor Department’s jobs report and reacted to Yahoo Inc.’s announcement of its biggest management shake-up in more than five years.

Wall Street showed signs of life to today, closing sharply higher after a drop in existing home sales and sturdy economic growth calmed investors’ inflation jitters and motivated them to buy stocks after two weeks of losses.

US stocks made a modest advance today as strong earnings from Yahoo Inc. and United Technologies Corp helped investors briefly set aside worries over inflation and rising oil prices.

Disappointing tech sector earnings set off a second day of selling on Wall Street today, though the markets showed strength in the face of a major selloff in Japan.

Japanese stocks plunged for a second day today, bringing its two-day loss to nearly 6% amid investor jitters about a widening criminal investigation of internet start-up Livedoor Co.

Lower oil prices and technology news helped stocks rally today despite a legal dispute that raised questions about Johnson & Johnson’s $25bn acquisition of Guidant Corp.

Stocks rose today after Federal Reserve Chairman Alan Greenspan delivered an upbeat assessment of the economy and Wall Street focused on the solid earnings reported by a growing number of companies.

As a conclusion to the war in Iraq becomes increasingly likely, investors have returned their concentration to the actual state of the US economy.