NEW YORK (CNNMoney.com) - Stocks crept lower Thursday morning, as investors mulled rising oil prices and a cautious outlook on the housing market from Toll Brothers.

The Dow Jones industrial average (down 1.20 to 10,809.71, Charts), the Nasdaq composite (down 0.39 to 2,251.62, Charts) and the S&P 500 (down 1.34 to 1,256.03, Charts) index all inched lower in the early going.

Stocks slipped Wednesday, with the recent rally losing some steam amid higher bond yields and increased worries about rising interest rates.

Upbeat news from a pair of chipmakers received a mixed response from investors.

Late Wednesday, Texas Instruments (up $0.35 to $33.91, Research) said its current-quarter earnings and revenue would come in at the high end of its previous range, due to strong demand for its mobile phone chips. However, the company's earnings per share forecast is below analysts' estimates and shares fell Thursday morning.

Thursday morning, wireless chipmaker Qualcomm (up $0.28 to $45.28, Research) said fiscal first-quarter revenue would come in at the high end of its previous forecast, due to strong chip shipments. Shares were barely higher.

In other news, Toll Brothers (up $0.55 to $34.85, Research) retreated after warnings that 2006 earnings and revenue may miss Wall Street forecasts due to uncertainty about the economy and expectations for a slowdown in the housing market. As a result of this uncertainty, the company said fiscal 2007 earnings could beat or miss earlier forecasts.

Other homebuilders fell as well.

U.S. light crude oil for January rose 28 cents to $59.49 a barrel in electronic trading.

Treasury prices rose after two down sessions, sending the yield on the 10-year note to 4.49 percent from 4.51 percent late Tuesday. Treasury prices and yields move in opposite directions.

The dollar fell versus the euro and yen.

COMEX gold for December delivery rose 50 cents to $514.80 an ounce.

In global trade, major Asian markets ended lower and European markets fell at midday.