The major indices continue to trade in a range-bound manner, near the
unchanged mark. The Dow touches negative territory, with Merck (MRK
36.55, -1.13) acting as a major drag.
The energy sector is up 1.4% as crude prices climb 0.9% to $130.00 per
barrel. The sector is enjoying a bit of a rebound bid after falling
9.4% over the last two weeks.
The gains come despite disappointment over an earnings report from
Weatherford (WFT 39.49, -1.19). The oilfield equipment and services
provider reported a 26% rise in earnings per share, although the
results fell short of Wall Street's estimate.