US stocks stabilise

Wall Street stabilised today, closing little changed although another spike in oil prices sent many investors to the safety of the bond market. Scattered bargain-hunting after the previous session’s slide kept selling to a minimum.

The major indexes fluttered through a narrow range for most of the day as investors eyed the highs and lows of oil prices, which hit 57.60 before retreating to settle at 56.40 on the New York Mercantile Exchange.