Oil Jumps and Financials and Earnings Add to Bulls' Lumps

Despite an afternoon attempt at a recovery, stocks finished lower as crude oil and commodities rose solidly. Financials faltered amid continued fears for the sector, and economic concerns crept higher after a dismal earnings report from Deere & Co, to add to the pessimistic mood on the Street. However, tech issues fared relatively well amid upbeat comments from Applied Materials, and a $1 billion increase in its share buy back program from Nvidia. In other equity news, Best Buy announced it will carry Apple's iPhone, Toll Brothers posted a drop in revenues, backlog, and net signed contracts. Elsewhere, Moody's downgraded the debt of General Motors, and CVS Caremark has agreed to acquire Longs Drug Stores for $2.9 billion. In economic news, retail sales showed signs of slowing, import prices jumped, and business inventories remained thin. Treasuries finished lower. see more