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U.S. stocks flat
Published in Saudi Press Agency on 18 - 10 - 2004

Stocks were little changed on Monday after energy companies were hit by a drop in oil's price and technology shares were dragged lower after bellwether Intel Corp. was downgraded by First Albany.
Oil companies Exxon Mobil Corp. and ChevronTexaco Corp. fell as oil slipped to an 8-week low under $47 a barrel. Growing fuel stocks in the United States have eased fears of a winter supply crunch.
Chip maker Intel, a Dow component, fell close to 1 percent after First Albany downgraded the stock to "underperform" from "buy" and reduced the chip maker's price target by $6 to $18.
But shares of Microsoft Corp. were up 1.75 percent at $27.35 on the Nasdaq. Microsoft was trading ex-dividend after taking into account its special dividend of $3 per share. Microsoft closed at $29.97 on Friday, the last day investors could buy the stock and get the dividend.
The Dow Jones industrial average was up 13.33 points, or 0.13 percent, at 10,552.34. The Standard & Poor's 500 Index was down 1.07 points, or 0.09 percent, at 1,183.10. The Nasdaq Composite Index was up 1.31 points, or 0.06 percent, at 2,086.65.
U.S. light crude fell 97 cents to $46.35 a barrel -- 16.7 percent below a record high of $55.67 on Oct. 25. --More 2154 Local Time 1854 GMT


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