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Wall Street struggled as oil prices flirted with new highs and a hi-tech merger was called into question. The Dow lost 44 points. The S&P 500 was little changed. But the Nasdaq saw a late day rally. A rebound in Yahoo helped the Nasdaq along. A Yahoo dissident shareholder said he would not try to put up an alternate slate of Board nominees, but billionaire investor Carl Ichan may be looking to launch his own proxy battle, according to CNBC. No confirmation was available from the Icahn camp. Yahoo rallied over 5 percent. Hewlett-Packard was the biggest drag on the Dow. Investors think HP's nearly $14 billion purchase of Electronic Data Systems is too rich. HP is down 10 percent in two days. Shares of EDS up one percent in Tuesday trade. Oil rallied to a record near $127 a barrel on Iranian supply concerns. But backed-off that high after the U.S. Senate overwhelmingly voted to stop filling the strategic reserve until prices fall to $75 a barrel. Crude settled at $125.80 a barrel....
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Yahoo! lifts Nasdaq

Wall Street struggled as oil prices flirted with new... (more)
Channel:MediaScrape Category:Business Views:4
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