Biblenuggetlady
July 18th, 2007, 12:00 AM
http://www.bloomberg.com/apps/news?pid=20670001&refer=stocks&sid=aenNzwh9PECk
July 17 (Bloomberg) -- Most U.S. stocks fell as a drop in oil prices sent drillers' shares lower after the Dow Jones Industrial Average flirted with 14,000 for the first time.
Exxon Mobil Corp., the world's largest oil company, and Chevron Corp., the second-biggest U.S. crude producer, declined. Johnson & Johnson dropped 1.7 percent and helped pare the Dow's gain after reducing its sales forecast for the year.
About six stocks slid for every five that gained. Energy companies were the biggest drag on the Standard & Poor's 500 Index after speculation U.S. gasoline supplies will rise sent oil prices down from the highest in 11 months. The Dow climbed as high as 14,021.95 and closed at a record for a fourth day, helped by a brokerage upgrade of American Express Co.
``The market may be a little bit ahead of itself,'' said Mark Keeley, who helps manage $8.5 billion as vice president of Keeley Asset Management in Chicago. ``It's gotten more difficult to find what we term to be truly undervalued situations.''
The S&P 500 slipped 0.15 to 1549.37. The Dow average rose 20.57, or 0.2 percent, to 13,971.55. The Nasdaq Composite Index added 14.96, or 0.6 percent, to 2712.29.
July 17 (Bloomberg) -- Most U.S. stocks fell as a drop in oil prices sent drillers' shares lower after the Dow Jones Industrial Average flirted with 14,000 for the first time.
Exxon Mobil Corp., the world's largest oil company, and Chevron Corp., the second-biggest U.S. crude producer, declined. Johnson & Johnson dropped 1.7 percent and helped pare the Dow's gain after reducing its sales forecast for the year.
About six stocks slid for every five that gained. Energy companies were the biggest drag on the Standard & Poor's 500 Index after speculation U.S. gasoline supplies will rise sent oil prices down from the highest in 11 months. The Dow climbed as high as 14,021.95 and closed at a record for a fourth day, helped by a brokerage upgrade of American Express Co.
``The market may be a little bit ahead of itself,'' said Mark Keeley, who helps manage $8.5 billion as vice president of Keeley Asset Management in Chicago. ``It's gotten more difficult to find what we term to be truly undervalued situations.''
The S&P 500 slipped 0.15 to 1549.37. The Dow average rose 20.57, or 0.2 percent, to 13,971.55. The Nasdaq Composite Index added 14.96, or 0.6 percent, to 2712.29.