Stock Watch: Stocks Take Dip On Oil, Tech News ; Texas Instruments Cuts Forecast, Worrying Investors

The Columbian › March 09, 2005

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Summary

NEW YORK -- Profit-taking sent stocks modestly lower Tuesday after oil prices topped $55 a barrel and a disappointing earnings update from Texas Instruments Inc. cast fresh doubts on the tech sector.

In a session with little economic or earnings news, the sharp rise in oil prices dominated trading. Crude oil futures rose above $55 for the first time in more than four months before slipping lower at the end of trading. A barrel of light crude settled at $54.59, up 70 cents, on the New York Mercantile Exchange.

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Stock Watch: Stocks Take Dip On Oil, Tech News ; Texas Instruments Cuts Forecast, Worrying Investors

"Because of the lack of other news, oil becomes the big news," said Brian Bruce, director of global investments at Pa...

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