Stocks are looking to start Wednesday's session in positive ground:
(S&P futures vs fair value: +4.9. Nasdaq futures vs fair value:
+10.2. ). Oil is headed lower again. Crude is indicated roughly 1.5%
lower in electronic trading.
Stocks rose Tuesday, as falling oil prices and a stronger dollar helped boost sentiment.
Oil prices extended their decline Wednesday. U.S. crude tumbled $1.93 to $126.92 a barrel in electronic trading.
Stocks to watch include Exxon Mobil, which faces disgruntled shareholders, including members of the Rockefeller family, at its annual meeting today.
The Wall Street Journal reported that Bear Stearns plans to hand over documents to the Securities and Exchange Commission showing that several Wall Street firms, including Goldman Sachs, cut their exposure to Bear in the weeks leading up to its collapse.
Computer maker Dell suffered a setback late Tuesday
when a New York state judge ruled it engaged in repeated false and
deceptive advertising of its promotional credit financing and warranty
terms.