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US markets end mixed
New York, May 25: Investors, nervous as oil prices climbed near record highs above $41 a barrel, hesitated to load up on stocks on Monday, sending the blue-chip Dow average down while the Nasdaq and the S&P 500 edged higher.
The big worry on Wall Street is that escalating energy
costs may hurt consumer spending, a main driver of the
economy's recovery.
NYMEX crude oil and gasoline futures rallied close to
near record highs amid worries that higher output planned
by Saudi Arabia, the world's largest oil producer, will not
be enough to meet rising global demand.
The Dow Jones industrial average ended down 8.31
points, or 0.08 percent, at 9,958.43, while the broader S&P
500 Index inched up 1.85 points, or 0.17 percent, to
1,095.41, based on the latest figures. The Nasdaq Composite
Index added 10.89 points, or 0.57 percent, to 1,922.98.
Light corporate earnings calendar and a lack of major
economic readings gave markets little direction, traders
said.
Bureau Report