economic data

Stocks fluctuated in a narrow range early Wednesday as rising oil prices again limited the market's reaction to upbeat economic data.

An In-Depth Look; Futher Reaction with Michelle Meyer of Lehman Brothers

Oil was supported above $132 a barrel Monday in Asia by ongoing worries about global petroleum supplies and the outlook this week for the U.S. dollar.

The dollar has weakened over the last week after a modest recovery, and investors will be watching economic data out of the United States to be released over the next few days for further clues about the health of the world's biggest economy.

'The dollar's been swinging down again,' said Mark Pervan, senior commodity strategist at Australia & New Zealand Bank in Melbourne, and that's 'going to sway sentiment.'

The euro declined to a two-month low against the dollar in Asia Thursday on speculation that weaker-than-expected euro-zone economic data might make the European Central Bank more pessimistic toward the region's overall economy.

Making A Break?

The Federal Reserve on Wednesday lowered its estimates for U.S. growth while also raising its inflation outlook.

The day's economic data backed up those troubling forecasts. But stocks rose as policymakers signaled that they'll set aside concerns over price pressures for now.