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July 25, 2008 11:49:39 AM CDT

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Stocks Teeter, Dive Before Bell

Posted Nov 14, 07 3:53 PM CST in Business 

(Newser) – Stocks wavered throughout today's session, finally falling well into the red before the bell. Despite relatively good news from the financial sector—including a hopeful outlook from Bear Stearns—surging oil prices and profit-taking in the tech sector brought the markets down. The Dow was off 83.16 to 13,223.93, the Nasdaq 29.33 to 2,644.32, and the S&P 10.46 to 1470.58.

Comments from analysts reflected the ambiguous day. "I think there's been a realization in the market that we're going to avoid the toilet swirl of recession," a bank exec told the Wall Street Journal, but added, "I'm pretty worried about inflation." A report on inflation at the retail level is due out tomorrow morning, and appears sure to generate plenty of interest.

Sources Wall Street Journal, Bloomberg, CNN, Financial Times (UK)

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NYSE Euronext Chairman Jan-Michiel Hessels, left, and NYSE Euronext CEO John A. Thain are interviewed on the New York Stock Exchange trading floor before closing bell ceremonies in this April 4, 2007...   (Associated Press)
Traders shouts for attention in the energy options pit.   (Getty Images)
The logo for Bear Stearns is shown at its corporate headquarters in New York, in this July 18, 2007 file photo. The investment bank will take a $1.2 billion writedown in the fourth quarter related to...   (Associated Press)
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