Declining oil prices and weakness in other commodities sent stocks lower today, as investors took profits and beat up the stocks that led Wall Street’s early January rally.

Stocks fluctuated before closing modestly higher today as oil prices neared $66 a barrel despite lower-than-expected damage estimates from Hurricane Rita.

Stocks staged a stunning rebound in the United States today as investors snapped up shares on unexpectedly strong earnings from companies including Nokia Corporation and Motorola Inc.

Investors resumed their December rally today, looking past higher oil prices and focusing instead on building up their portfolios before year’s end.

A round of strong profit outlooks fuelled anticipation over next week’s first-quarter earnings reports, sending stocks markedly higher today.

Fears over a lack of job growth and a sluggish US economy sent stocks sharply lower today, with the Nasdaq composite index wiping out its gains for all of 2004 and the Dow Jones industrial average nearly following suit.

A sharp drop in consumer confidence gave US investors another excuse to sell today, sending most stocks moderately lower in what some analysts are starting to call a market correction.

A burst of merger activity sent US stocks higher today.