Oil prices continued rising to weigh down the markets to a moderately lower close with the Dow easing a fraction to 11,842. Nasdaq tumbled 20 points to 2386.
On the upside
On the downsideUnited Airlines parent UAL (Nasdaq: UAUA) announced the elimination of 950 pilots as part of its plan to offset record fuel expenses by reducing domestic capacity.
In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 6 points to 720.