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AP Financial News Summary at 9:50 p.m. EDT

April 10, 2006

Some Worry 1st-Quarter Stock Rally Is Over

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NEW YORK (AP) _ Wall Street’s first-quarter rally could already be fizzling.

Oil Fund Very Risky for Average Investors

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WASHINGTON (AP) _ A new financial instrument aimed at those pining to profit from the multiyear surge in oil prices is distressing energy and stock-market experts because of the allure _ and risks _ it presents to average investors.

Now Starring on the Internet: YouTube.com

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SAN MATEO, Calif. (AP) _ Internet video sensation YouTube.com seems like a startup straight out of Silicon Valley central casting.

Cell Phone Industry Steps Closer to VoIP

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LAS VEGAS (AP) _ Wojtek Felendzer held a mobile phone to his ear as he walked across the room, the call automatically switching behind the scenes from a Wi-Fi wireless hotspot to the regular cellular network.

CD Maker Targets Do-It-Yourself Market

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PENNSAUKEN, N.J. (AP) _ You might think a slump in compact disc industry would be bad news for a CD manufacturer. But no one is complaining at Disc Makers.

Emotional Exxon Valdez Hearing Held

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ANCHORAGE, Alaska (AP) _ Oil that spilled when the Exxon Valdez tanker ran aground on a jagged rock in 1989 still lingers on and just below Alaska’s surface.

Skilling Testimony Crucial to Enron Trial

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HOUSTON (AP) _ When former Enron Corp. Chief Executive Jeffrey Skilling gives his much-anticipated testimony in his fraud and conspiracy trial, the stakes may be just as high for the government as they are for the one-time corporate star.

EU, Asia Want ‘Flexible’ China Currency

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VIENNA, Austria (AP) _ EU and Asian officials said Sunday they would like to see China’s currency become more flexible but stepped back from demanding Beijing revalue the yuan.

Time Running Out for Rebuilding of Iraq

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BAGHDAD, Iraq (AP) _ In their makeshift offices in a former Baghdad palace, a small army of American builders and engineers, oilmen and budgeteers is working overtime on last-minute projects to help reconstruct Iraq.

Volkswagen Launches New Model for China

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SHANGHAI, China (AP) _ German automaker Volkswagen AG’s China unit launched its comeback model, the Sagitar, on Sunday, saying it is confident it can arrest a decline in its market share by focusing on specific types of car buyers.

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