Thursday, August 5, 2004

Traders ride roller-coaster

The Associated Press

NEW YORK - Wall Street waffled through an erratic session Wednesday, closing mixed as investors nervously watched oil prices but also allowed themselves to be encouraged by good economic news.

Stocks moved in the opposite direction from oil prices for much of the day, declining until early afternoon as crude climbed to $44.34 a barrel on the New York Mercantile Exchange. As oil fell below $43 on the way to a $42.83 close, Wall Street managed a late-session rally - but that advance quickly fizzled.

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