Market may need to see oil prices ease for stocks to rise

WITH oil prices pushing new record highs, Wall Street analysts say the market may need to see an easing of that pressure for stocks to rise this week.

"The market as far as stocks are concerned it's been amazingly resilient in the face of some very bad news, particularly about oil prices," said Michael Metz, chief investment strategist at Oppenheimer & Co., of New York.

Even after oil closed at $66.80 a barrel on the NYMEX on Friday, up $4.49 for the week, the blue-chip Dow Jones Industrial average and broader Standard & Poor's 500 index managed to hold mild gains for the week.