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After Rallies, Stocks Flatten Out

Posted Nov 29, 07 3:41 PM CST in Business 

(Newser) – Markets waffled for most of today's session and ended slightly up, after a big dip in the morning. "We've had an awful lot of upside, and [stocks] are entitled to some rest," one strategist tells the Wall Street Journal. The Dow was up 22.28 to 13311.73, the Nasdaq was up 5.22 to 2668.13, and the S&P was up 0.70 to 1469.72.

Bad news on profits from Sears kicked off the early dive, Bloomberg reports, and investors—still nervously monitoring financials—moved away from stocks into safer Treasury instruments. Meanwhile, oil nosed slightly higher, and investors were waiting for a speech by Federal Reserve Chairman Ben Bernanke planned for after the markets' close, the Journal reports.

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

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Banners hang on a Sears store in downtown Chicago in this April 4, 2007 file photo. Sears Holdings Corp. reported a 99 percent drop in third-quarter profit Thursday, Nov. 29, 2007 on weak sales at its...   (Associated Press)
Michael McDonnell, left, of Van der Moolen Specialists rubs his eyes on the floor of the New York Stock Exchange. (AP Photo/Henny Ray Abrams)   (Associated Press)
Tommy Kalikas, right, of UBS Securities looks at a monitor from the floor of the New York Stock Exchange. (AP Photo/Henny Ray Abrams)   (Associated Press)
Markets waffled for much of the day.   ((c) rizkapb)
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