Dow rises as S&P flat on lower oil

SOURCE:

Reuters

2008-08-04 14:10:59

Dow rises as S&P flat on lower oil

NEW YORK (Reuters) -The Dow rose on Monday, and the S&P 500

briefly turned higher as the price of oil fell, easing some

concerns about inflation and the impact of higher fuel costs on

consumer spending.

The decline in oil overshadowed earlier fears of more

losses at financial companies and government data that showed

mounting price pressures.

The Dow Jones industrial average was up 44.21 points, or

0.39 percent, at 11,370.53. The Standard & Poor’s 500 Index was

down 1.57 points, or 0.12 percent, at 1,258.74. The Nasdaq

Composite Index was down 9.40 points, or 0.41 percent, at

2,301.56.

(Reporting by Kristina Cooke; Editing by Jan Paschal)

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