NEW YORK (AP) -- Oil prices briefly spiked to a new record above $126 a barrel Monday but ended the day lower as investors cashed in profits and an earthquake in China raised the possibility of a drop in demand.

Retail gas prices, meanwhile, rose to another record above $3.70 a gallon, again following crude's recent path higher.

Oil futures have set new records for six straight sessions, and analysts said the market was due for a correction following the seemingly relentless climb upward.

"It looks like we're seeing a little bit of a correction. We put in the highs last week so we're seeing some profit-taking," said Tom Bentz, analyst at BNP Paribas Commodity Futures in New York.

Light, sweet crude for June delivery jumped to a new all-time trading record of $126.40 a barrel in light trading on the New York Mercantile Exchange before falling back to settle at $124.23, down $1.73 from Friday's closing record of $125.96. It was the first time oil has closed lower in six sessions.

Monday's price fluctation underscored the uncertainty over oil's future direction. Many analysts believe the weak dollar has driven oil prices to levels that defy fundamental supply and demand economics. But other investors see continued strong demand for oil and fuel from China and India as a sign that oil prices have further room to rise.

Moreover, growing concerns about declining crude production in Mexico, Russia and elsewhere are

KANSAS CITY, Mo. (AP) -- Sprint Nextel Corp.'s Dan Hesse had little good news to share Monday on the eve of addressing his first shareholder meeting as chief executive of the troubled wireless carrier.

Overland Park, Kan.-based Sprint reported a larger first-quarter loss brought on by falling revenue, charges for severance and other costs and the exodus of more than a million monthly subscribers.

The company also announced it was exploring the possible sale of noncore assets, though officials didn't give any specifics.

Sprint shares fell 14 cents to $9.24 in trading Monday.

Hesse, who will speak Tuesday at the company's annual meeting in Reston, Va., continued to ask for patience as the company tries to surmount a raft of structural, technical and perceptional problems that have allowed Sprint to fall far behind rivals AT&T Mobility and Verison Wireless.

"The turnover will take many quarters, however, we are acting quickly and decisively to improve our performance," he told analysts during a conference call.

The company said it lost $505 million, or 18 cents per share, in the three months ended March 31

Is a million dollars enough to retire comfortably on? Many baby boomer millionaires don't think so, especially once recession fears come into play. Almost 30 percent of 60-year-old baby boomers with investable assets of $1 million or more say they feel more financial stress now than six months ago, according to a new survey from Bell Investment Advisors and Opinion Research Corp.

The admittedly small survey of 500 boomers born in 1948 found that 40 percent are "downsizing" their lifestyles this year by contributing less to charity (22 percent), canceling, shortening, or postponing vacation plans (21 percent), reducing retirement savings (18 percent), or putting off retirement altogether (11 percent).

Of course, a millionaire also has the luxury of rejiggering investments to try to come out ahead. And 54 percent of affluent boomers cited chasing higher returns on investments as a primary goal for the next five years.

But even millionaires aren't immune to making irrational investment choices as the media endlessly report a looming recession. Some 23 percent of affluent boomers say they are planning to change their investment strategy in response to a potential recession, with 69 percent seeking more conservative investments like money market funds and bonds. Only 21 percent said they would invest more in stocks or stock mutual funds.

That could be a mistake, says Jim Bell, founder and president of Bell Investment Advisors. In many cases,