Stocks End Higher as Oil Drops

Crude oil slides to around $127 and the dollar gets a boost, offsetting a huge loss by Wachovia and disappointing outlook from Apple

In a late-day rally, stocks finished higher Tuesday as crude oil prices pulled back and the dollar rose. The market had been wobbly most of the session amid a raft of negative earnings reports, led by Wachovia Corp. (WB), which posted a staggering second-quarter loss and announced it was cutting its dividend and 6,350 jobs, and a disappointing forecast and lower gross margins at Apple (AAPL).

To continue reading this article you must be a Bloomberg Professional Service Subscriber.