Wall Street Falls 59 Points Amid Higher Oil Prices

May 13, 2008 12:31 p.m. EST

New York, NY (AHN) - Stocks were lower Tuesday amid climbing oil prices and mixed economic reports.

The Dow Jones Industrial Average was down 62 points to 12,813 at 12:10 Eastern. The Dow closed Monday, gaining around 134 points.

The broader Standard and Poor's 500 was down two points at 1,400. Earlier today, the Commerce Department reported non-auto retail sales in April rose 0.5 percent, besting a predicted 0.2 percent increase.

Retail giant Wal-Mart also reported earnings won't likely match expectations.

Business sales also inched up 1 percent in March, the smallest gain all year.

The tech-heavy Nasdaq Composite Index fell 5 points at 2,484 despite the news PC giant HP will buy services provider Electronic Data Systems for $12.6 billion.

In commodities, crude oil was up $2.27 to $126.50 a barrel.

Gold took a drubbing, off $12.70 to $872.20 an ounce on the New York Mercantile Exchange.