Yahoo & BoAC squares off Oracle's earning reports
Apparent relief over the Bank of America Corp. BAC settlement and late-breaking report on Yahoo Inc. YHOO helped stocks shed losses in the last hour.
After spending most of the day in the red, Dow Jones Industrial Average finished up 4.16 points, or 0.03%, at 12,107.74. The S&P 500 rose 2.42 points, or 0.2%, to 1,243.72. The Nasdaq Composite lagged, dragged down by a sour reaction to Oracle Corp.’s results. The Nasdaq lost 25.76 points, or 1%, to 2,577.97.
Crude-oil futures racked up their third-straight winning session today, getting some momentum from the Energy Information Administration's (EIA) weekly inventories report. For the week ended Dec. 16, the EIA reported a bigger-than-expected drop of 10.6 million barrels in domestic crude supplies, while analysts were expecting a decrease of only 2.25 million barrels. Against this backdrop, oil for February delivery tacked on $1.43, or 1.5%, to close at $98.67 a barrel.
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