The Closing Bell: Rally streak comes to an end

Wall Street turned in a mixed performance Monday as investors watched the price of oil regain ground and decided to cash in some of their gains from the stock market’s big rally last week. While the stock market’s major benchmarks showed modest losses, the number of stocks advancing outpaced decliners by about 2 to 1 on the New York Stock Exchange, and by about 4 to 3 on the Nasdaq Stock Market. The tame session unfolded as oil rose on concerns that the threat of new sanctions against Iran over its nuclear program may escalate tensions in the Middle East. Light, sweet crude rose $2.16 to settle at $131.04 a barrel on the New York Mercantile Exchange. The rise in oil offset initial market enthusiasm after Bank of America Corp. posted results that beat expectations, raising hope the credit crisis might be easing for the... [read full story]