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Stocks rise modestly as as oil prices decline

By TIM PARADIS
AP Business Writer

NEW YORK (AP) -- Stocks are up modestly in early trading, with a slightly lower price for oil easing some of the market's inflation worries.

A barrel of light, sweet crude is down $1.54 at $124.42 a barrel in preopening trading on the New York Mercantile Exchange. Oil prices surged nearly $10 last week, raising concerns that consumers would cut back their spending on non-essential items as they pay more for gas and food.

The dollar is also higher, which lends a little more support to stock prices.

The Dow Jones industrials are up about 36 points at the 12,782 level.



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