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Stocks balance rise in oil, shoppingStocks futures lower as oil climbs on worries about Iranian nuclear dispute, but strong end of holiday shopping could provide lift.NEW YORK (CNNMoney.com) -- The continued dispute with Iran pushed oil prices higher and could give stocks a rough start to the final week of the year, although they could get a boost from reports of a strong end to the holiday shopping season. Stock futures, which predict the direction of stocks at the open, were in the lower. Light trading volumes in stocks during the holiday week could lead to volatile markets. Oil prices rose early Tuesday after Iran stepped up threats in the wake of U.N. Security Council sanctions on Saturday due to its nuclear program. U.S. light, sweet crude climbed 63 cents to $63.04 a barrel in electronic trade. Brent crude jumped 78 cents to $63.20 a barrel. Treasury prices edged lower early Tuesday, with the yield on the 10-year note at 4.61 percent from 4.62 percent on Friday. The dollar was higher against yen and little changed versus the euro. |
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