US stocks dip as oil prices increase

Profit-taking sent stocks modestly lower in the United States today after oil prices topped US$55 (€41.21) a barrel and a disappointing earnings update from Texas Instruments Inc cast fresh doubts on the tech sector.

In a session with little economic or earnings news, the sharp rise in oil prices dominated trading. Crude oil futures rose above 55 for the first time in more than four months before slipping lower at the end of trading.