Stock Market News - DOW Finishes Lower
Stock Maerket News
Stock markets started lower, moved higher, were flat in the afternoon and finally the DOW turned down 29 points, although the NASDAQ finished up 5 and the S&P finishe down 1.
Technicals showed a 3 to 2 positive ratio on advance-declines on the DOW but were positive by just 30 on the Nasdaq.
Financial shares fell due to a new bill passed by the Senate on Tuesday to combat sudden increases in credit card rates and hidden fees from credit card companies.
Home Depot closed down 5.3 percent.
European shares finished at their highest in more than four months, on optimism about a financial sector recovery.
"There is a very strong conviction now that recovery lies ahead and that earnings are going to come through and it is not going to budge until there is some real disappointing news flow," said Brewin Dolphin strategist Mike Lenhoff.
U.S. crude finished 62 cents higher at $59.65 a barrel, after reaching $60.48 a barrel at one point, the highest level since November 11.
The gains came after a fire a Flint Hills Resources' refinery in Texas, that processes 288,000 barrels of oil a day.
There was also an explosion on Sunday at Sunoco's oil refinery in Marcus Hook, Pennsylvania, following which the company shut off gasoline production.
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