Stocks Teeter, Dive Before Bell

Techs lead the plunge; oil prices jump again
By Sam Gale Rosen,  Newser Staff
Posted Nov 14, 2007 3:53 PM CST
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)
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(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.