Markets Turn Negative As Oil Prices Climb

The markets drifted into negative territory during the midday with the Dow slipping 11 points to 12,024 as oil prices climbed. Nasdaq lost 5 points to 2686.

On the upside

Soaring prices of rare earth metals lifted shares of Molycorp (NYSE: MCP).

Express (NYSE: EXPR) reported higher fourth quarter earnings that topped analyst estimates on strong holiday sales and upbeat current quarter as well as full year results.

Seeking Alpha contributor Danny Furman listed Kinross Gold (NYSE: KGC) as one of five gold miners with strong growth potential and limited downside.

On the downside

Shares of Talbots (NYSE: TLB) fell ahead of its earnings release later this week.

Photronics (Nasdaq: PLAB) will offer $100 million in convertible senior notes.

Investors locked in profits on Star Scientific (Nasdaq: CIGX), whose shares have been climbing since two patents were upheld on March 11.

In the broad market, declining issues outpaced advancers by a margin of more than 9 to 7 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points 809.