Dow Eases 30.84 as Investors Await New Economic Signals From Jobs Data
STOCKS SLIPPED for a second straight day as investors continued to fret -- and disagree -- over where the U.S. economy is headed.</br></br>Many held off on placing big bets ahead of the release of jobs data due out today. The result was another lackluster finish for key stock- market measures, punctuated by moves reflecting news that affected a few big-name companies.</br></br>The Dow Jones Industrial Average rose more than 50 points in the first half hour of trading, briefly crossing its Nov. 17 record close. But by the end of the day, the blue-chip average was down 30.84 points, or 0.3%, at 12278.41 points, up 15% on the year and 64.15 points away from the record set last month.</br></br>Shares in Home Depot, a Dow component, tumbled 2.5% after it disclosed late Wednesday that it had backdated executives' stock options, making the home-improvement giant one of the largest firms to have admitted engaging in the controversial practice.</br></br>Throughout the day, the Dow fluctuated in the opposite direction of crude oil, which opened lower but finished up to snap a three-day losing streak. The stock market often moves inversely to oil prices because higher energy costs can sap consumers' purchasing power, threatening corporate profits.