Oil Drives Uneven Finish

The markets ended mixed after moving between gains and losses, as traders tracked gyrations in the price of oil—which finished down 2% from earlier highs of $137 a barrel, MarketWatch reports. The Dow gained 9.44 to end at 12,289.76. The Nasdaq lost 10.52 to settle at 2,448.94, and the S&P 500 lost 3.32, closing at 1,358.44.

Financial blue chips perked back up after yesterday’s wipeout—Citigroup, JP Morgan, AIG, MBIA, Wachovia and Washington Mutual all gained between 2% and 9%. Fed chief Ben Bernanke's apparent concern over inflation sent the dollar up but investors scurrying. "I think the markets are overreacting a bit to the actual level of risk that's out there," on analyst said. "The US economy is still pretty weak, with rising unemployment." (More Dow Jones stories.)