Oil may foul stocks - More weakness seen [View All]

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CNN
European stocks slide, weighed down by oil price fears (AFP)

NEW YORK (CNN/Money) - The rising price of oil continues to dominate U.S. stock market activity, with a lower open indicated Wednesday as crude futures hit another record.

Early Wednesday, Nasdaq and S&P futures were modestly lower.

Oil prices continued their climb. U.S. crude futures reached a record $44.28 a barrel before pulling back; still, they were up 3 cents to $44.18 a barrel in electronic trading. Brent oil futures gained 10 cents to $40.74 a barrel in London,


Rising oil prices and less-than-spectacular economic report sent stocks tumbling Tuesday. The Nasdaq composite index fell 1.7 percent, while the Dow Jones industrial average's loss was about a third as steep. ---

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