Job Data Revive Inflation Angst

After rallying sharply for the past five weeks, Wall Street is suffering from an embarrassment of riches, or more to the point, a surplus of good news.

Stocks hugged the flatline Friday morning, and weakened into midday, despite a strong November employment report. "Equity investors should like this report," wrote Joel Naroff, president of Naroff Economic Advisors, in a research note.

The fact that not everyone did signals again there are some market participants are increasingly concerned that the economy's quick recovery after Hurricane Katrina will allow the Federal Reserve to continue lifting interest rates well into 2006. ...