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Top UK supermarkets record 97% profits as food inflation and cost of living batters Brits | Personal Finance | Finance

Detailed text transcripts for TV channel - MSNBC - 20110105:10:17:00

chrysler got in on the act. reporting u.s. sales rose 17% last year. but instead of celebrating the bright spots, investors focused on dumping red hot commodity shares slipped from multiyear highs. oil in particular finished sharply lower after rising to a 26-month high with investors taking profits on concern the price of crude has climbed too high, too fast. all that combined with fears of lower supermarket profits sent the s&p 500 and nasdaq lower. one brokerage recommends investors cut holdings in the supermarket chain supervalue predicting rising food costs will cut margins. it dropped 6%. safeway 4% and whole foods lost more than 3%. traders also chewed over the latest gloominess from the fed in minutes from december s policy meeting. fed officials say signs that economic growth weren t enough to cut back its controversial $600 billion bond buying

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