4:10PM EST: Most U.S. stocks dropped for a fourth day as concern that rising energy costs will damp the outlook for corporate profits outweighed a better-than-forecast sales report from General Motors Corp.
FedEx Corp., the world’s second-largest package-delivery company, retreated as crude climbed above $141 a barrel, while Home Depot Inc. slid to a five-year low after Merrill Lynch & Co. advised selling the shares as the housing slump worsens. GM, the largest U.S. automaker, rallied the most since April and led a rebound in the Dow Jones Industrial Average.
Eight stocks fell for every five that rose on the New York Stock Exchange. The Dow declined 3.01 points, or less than 0.1 percent, to 11,347 at 3:26 p.m. in New York, erasing most of a 166-point decline that sent it into a bear market earlier. The Standard & Poor’s 500 Index slipped 0.2 to 1,279.8. The Nasdaq Composite Index climbed 4.02 to 2,297.
(Bloomberg)
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do people not realize that the reason that gas keeps on going up is do to hype and that we are all causing ourselves to lose our pants if we would all realize this thats part of the solution. next to cause prices to go down we should boycott one gas station bec they would have on choice but to make prices drop as they don’t want to lose money. once that happens all stations will also have to drop and there will be a ripple affect. i belive we should boycott exon and mobil as they are the largest importers of oil could every one please help with this boycott starting now and spread the word with whatever means possible i can state that it can happen withevery ones help