US stocks end higher

Stocks ended higher today after the price of crude oil pulled off its lows and the Federal Reserve said more banks are tightening lending standards.

The decline in oil since last month has eased investors’ concerns about the drag of rising prices on the economy, but its move off its lowest levels today deflated a stock market rally that built upon steep gains last week. Light, sweet crude fell 75 cents to settle at 114.45 dollars per barrel on the New York Mercantile Exchange after dipping as low as 112.72 dollars, its lowest level since early May.