On Mixed News, Modest Gains

Crude falls, durable goods rise, but foreclosures also climb
By Nick McMaster,  Newser Staff
Posted Jul 25, 2008 3:33 PM CDT
In this Sept. 21, 2007, employees enter GM's Romulus Engine Powertrain Plant in Romulus, Mich. General Motors Corp.   (AP Photo/Gary Malerba, file)
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(Newser) – The Dow and S&P 500 seesawed to minor gains today amid mixed economic reports, MarketWatch reports. The Dow rose 21.41 to 11,370.69, the S&P 500 5.22 to 1,257.76. Bolstered by the relative insulation from the economic slump enjoyed by tech stocks , the Nasdaq gained 30.42 to close at 2,310.53.

Oil futures fell $2.23 to $123.26 a barrel, continuing a weeklong decline. The Commerce Department reported that orders of durable goods rose 0.8% last month, beating expectations. Financials led S&P 500 decliners as S&P itself said it was considering a downgrade of Fannie Mae and Freddie Mac. Weighing the Dow down was GM, which tumbled 7.7% on a weak July forecast.