NEW YORK - Wall Street started the week with a mixed finish on Monday as investors weighed volatility in oil prices and new hope for the financial sector after Lehman Brothers posted results.
Stocks mixed on oil prices; financials gain
June 17, 2008 at 1:59AM
Stocks spent much of the session mostly lower after a fresh record for crude oil and a decline in regional manufacturing activity touched off concerns about the ability of the economy to push ahead.
But more buyers turned out following an afternoon retreat in oil. And financials were among the biggest gainers.
The day's eventual gains followed worrisome economic news. The New York Federal Reserve Bank's Empire State index indicated that manufacturing activity in New York State continued to weaken in June. The index fell to a negative 8.7 from a negative 3.7 a month earlier.
The Dow Jones industrial average fell 38.27, or 0.31 percent, to 12,269.08 after being down more than 95 points early in the session.
Broader stock indicators were mixed.
The Standard & Poor's 500 index added 0.11, or 0.01 percent, to 1,360.14. The Nasdaq composite index, which contains many technology names, rose 20.28, or 0.83 percent, to 2,474.78.
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