Stocks Mostly Down as Oil Rally Resumes

Stocks ended mostly down today as the price of oil resumed its steady rally. Crude has gained in seven of the eight last sessions, reports the Wall Street Journal. "It just keeps surprising us," said one floor trader. The Dow ended down 44.13 at 12,832.18, the Nasdaq up 6.63 at 2,495.12, and the S&P 500 down 0.54 at 1,403.04.

As oil flirted with $127, boosting energy stocks, investors digested mixed messages on consumer spending. New data from the Commerce Department suggest spending is stable, but many analysts are still deeply worried by oil's continuing rise. And Iran's official news agency has released a report saying the country will cut oil output next month. (More oil prices stories.)