Market diary.

The markets slipped back from their record highs during the week ending June 6, fed by concerns about global inflation and the diminishing prospect of interest rate cuts. The Dow Jones Industrial Average closed down 1.2 percent to 13,465.70, while the Standard & Poor's 500 fell 0.8 percent to

1,417.38. Only the tech-dominated Nasdaq index managed to eke out a slight gain of 0.7 percent, closing at 2,611.23. The LABJ 200 index of local stocks was virtually flat on the week, closing at 144.62 as 80 stocks advanced and 120 stocks declined. Six of the 18 industry sectors posted gains, led by apparel stocks, which rose 7.7 percent. Media/leisure/entertainment stocks lost the most ground, dropping 2.5 percent, led by EMAK Worldwide, whose stock plunged 18.6 percent to $2.89 per share. Twenty-four stocks hit 52-week highs during the week, including jeans maker Guess? Inc., which saw its stock shoot up 15 percent after reporting record first quarter earnings. Only four stocks hit 52 week lows, including EMAK. The LABJ index itself saw a change last week: Smart & Final Inc. was removed as Apollo Management LP has taken the warehouse/supermarket chain private. In its place is architecture and engineering giant AECOM Technology Corp., which recently went public with a $700 million initial public offering. AECOM closed June 6 at $23.11 per share, above its initial trading day closing price of $21.