Stocks Mixed as Oil Jumps Past $60

albena
30 Nov, -0001
New York City

U.S. stocks were mixed Monday as oil prices climbed past $60 a barrel mark. Home Depot, AIG Inc. and Exxon Mobil Corp. recorded gains and boosted blue chips. Nasdaq was dragged down by tech shares.

The Dow Jones Industrial Average was up 25 points, or 0.2%, to 10,322 at midday while the S&P 500 gained 2 points, or 0.2%, to 1,193. The Nasdaq Composite Index was fractionally lower.

European markets ended broadly lower Monday as pressure from record high oil prices hit oil-sensitive airline and automotive stocks and influenced general market environment.

The German DAX 30 index closd down 0.9% to 4,523.8, France's CAC 40 index dropped 1% to 4,157.6. London's FTSE 100 index closed down 0.7% at 5,043.5.

The dollar traded at 109.35 yen, up from 109.06 yen late Friday, while the euro gained against the greenback to $1.2166 from $1.2103.

COMEX gold fell 50 cents to $441.50 an ounce.

The 10-year Treasury note advanced 5/32, or $1.56 per $1,000 invested, to yield 3.902% Monday. The 30-year note climbed 17/32 to yield 4.192%. Yields move inversely to prices.

Crude climbed to new highs at $60.40 a barrel, up 56 cents, amid worries that supplies would not be able to satisfy demand.

The airline sector dipped during early trading pressure from high oil prices. Paper products stocks also performed weak, as well as some technology spaces.

The housing sector is recently up about 1.5% - reversing most of Friday's losses. The energy group also stays strong as the natural gas space climbed by 1.7%.

Retailers, home builders, chemicals, integrated oil and oil services were the best performers.

Semiconductors, airlines, Internet, hardware, networkers and software were among the decliners.

NeighborCare Inc. ((NCRX)) announced its board rejected a $32 per share acquisition offer from Omnicare Inc. ((OCR)).

NeighborCare shares added 0.7% while Omnicare shares dropped 1.8%.


Shares UP:

Home Depot Inc. ((HD)) , 3M Co. ((MMM)) and Exxon Mobil Corp. ((XOM)) marked Dow's biggest advancers.


Shares DOWN:

Alcoa Inc. ((AA)), Pfizer Inc. ((PFE)) and United Technologies Corp. ((UTX)) were the biggest decliners.