Skip to: Content
Skip to: Site Navigation
Skip to: Search

November 22, 2008 5:24:41 CST

Learn about Newser Points »

« Back to the grid | Next story »

Stocks Mostly Down as Oil Rally Resumes

Posted May 13, 08 3:35 PM CDT in Business 

(Newser) – 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.

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

0 comments | Print E-mail | Digg Seed this on Newsvine Add this link to Del.icio.us StumbleUpon

Related Newser Stories

  • Bloodied Stocks Rebound

    Nov 21, 08 8:45 CST
    Bloodied Stocks Rebound Stocks took a big bounce at the open today, after two brutal days that sent markets to 11-year lows. The Dow jumped 137 at the open, with the S&P and Nasdaq trading 2.2% and 1.8% higher, respectively. Citigroup shares jumped 5%, on news the company was considering selling all or part of itself. The company has dropped 50% in the past two days. More »

  • Gas Prices Plummet Below $2

    Nov 21, 08 5:41 CST
    Gas Prices Plummet Below $2 As crude oil sank below $50 for the first time in years, gas prices in America continued their precipitous fall, with the average cost of a gallon below $2 today for the first time since 2005. The turnabout is the sharpest since the government began tracking prices in 1980. Suddenly, writes the Wall Street Journal, debate in Washington has shifted from whether the government should give drivers a tax break to whether Congress should hike taxes.
    More »

  • Ignore Market Until February

    Nov 20, 08 5:43 PM CST
    Ignore Market Until February The stock market can be a great synthesizer of millions of individual judgment calls about economic growth, government policy, and world events, writes Andy Kessler in the Wall Street Journal. But it’s also subject to end-of-year distortions, especially in down times like these. What's an investor to do? "I'd say stick wax in your ears and don't listen to the market until February."
    More »

  • Below 8,000, Dow Continues to Drop

    Nov 20, 08 9:03 CST
    Below 8,000, Dow Continues to Drop Stocks took a slide at the open today, following a disastrous session yesterday that saw the Dow fall below the 8,000 mark. The Dow shed 160 points at the open, accompanied by 21- and 17-point declines in the Nasdaq and S&P. Stocks have fallen nearly 8% this week alone as fears over the auto and financial industries have run wild.   More »

  • Brazilian Trader Shoots Himself at Exchange

    Nov 18, 08 4:28 CST
    A Brazilian trader was in critical condition after shooting himself in the chest on the floor of the nation's commodities and futures exchange yesterday. The tragedy occurred in the raucous interest rate futures pit, where some $21 billion in contracts are traded daily. Brazil's main stock index has plunged 50% since May.
    More »

A man stands near a fuel pumping station on Canal Street and West Street on Monday, May 12, 2008 in New York.   (AP Photo/Jin Lee)
In this Sept. 19, 2007 file photo, an oil pump is seen at dusk in Sakhir, Bahrain.   (AP Photo/Hasan Jamali, file)
« Prev« Prev | Next »Next » Slideshow

Threads (
1
 of 3)

Tags

stock market • oil price


Loading...

Premium Articles from HighBeam

Find more articles like this

Today's Most Popular

Loading...

Other Business Stories

What is Newser?

2008 Codie Finalist

Face it: there's too much news. At Newser a team of editors and writers culls the most important stories from hundreds of U.S. and international sources and reduces them to a headline, picture, and two paragraphs. It's the Newser guarantee: we can take any report or column or video and pack what you need to know into 120 words or less. Newser's short-form aggregation, visual format, and unique information tools help you get more of the kind of news you want, in a quicker and more entertaining way. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »