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News Summary: Stocks Pull Back From Record

By The Associated Press

HARD TO PLEASE: Stocks fell back from record levels, even after the number of Americans applying for unemployment benefits fell last week. The big rally has made investors harder to please.

PLUG AND DRIVE: Tesla Motors surged $13.61, or 24 percent, to $69.40, after the electric car maker reported its first profit since being founded a decade ago. The company's Model S has also tied an older Lexus for the highest score ever recorded in Consumer Reports magazine's automotive testing.

RISING DOLLAR, FALLING YEN; Even though the fall in unemployment benefit claims failed to lift the stock market, it did boost the dollar. The U.S. currency rose against other major currencies and traded above 100 yen for the first time in more than four years.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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