Halliburton, Nabors Rise on Oil As Home Data Boost Beazer; Enterprise GP Increases 16% In Its First Day of Trading; Baidu.com Tumbles 5.1%
Dow Jones Newswires</br></br>Stocks fell as the price of oil rose to a record, but home builders such as Toll Brothers bucked the declines on a positive report on the housing market.</br></br>The Dow Jones Industrial Average lost 84.71, or 0.8%, to 10434.87; the Nasdaq Composite Index slid 8.34, or 0.4%, to 2128.91; and the Standard & Poor's 500-stock index declined 8, or 0.7%, to 1209.59.</br></br>Selling accelerated late in the session as crude-oil futures ascended to yet another record. "It's finally gotten to the point where it's beginning to influence consumer behavior," said Bruce Bittles, chief investment strategist at R.W. Baird.</br></br>On top of high oil prices, a report showing a drop in durable-goods orders weighed on economically sensitive stocks such as Dow-industrial component Caterpillar, which lost $1.48, or 2.7%, to $53.21.