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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