U.S. stocks lose steam as rally in crude-oil futures fades

Date: Tue, 06 Jan 2009 12:01:16 -0500
U.S. stocks lose steam as rally in crude-oil futures fades

U.S. stocks pare an early rise as a rally in energy shares loses steam
as crude-oil futures dip to under $49 a barrel and as investors digest
new data that largely confirm a bleak view of the nation's economy.
TALKS TO RESUME BETWEEN RUSSIA, UKRAINE, REPORTS SAY

Ukraine and Russia will reportedly resume talks later this week to
resolve their energy dispute, which has resulted in sharp decreases in
natural-gas imports in several countries in Eastern and Central
Europe.

FUTURES MOVERS: OIL DROPS AS DEMAND CONCERNS OUTWEIGH PRODUCTION CUTS

Crude-oil futures fall after earlier topping $50 a barrel for the
first time infive weeks, as demand concerns outweigh signs that OPEC
will move forward with production cuts.

SOUTH KOREA TO SPEND 37 BILLION ON 'GREEN' PROJECTS

South Korea said on Tuesday said it would spend 50 trillion won ($38
billion) during the next four years on environmentally-friendly
projects in an effort to bolster employment as the nation undergoes
its sharpest slowdown since the 1998 Asian financial upheaval.

TOYOTA ANNOUNCES MORE TEMPORARY JAPAN PLANT SHUTDOWNS

Toyota Motor Corp. will shutter factories in Japan
for a combined 11 days during February and March to in an effort to
reduce capacity amid the global slowdown, according to reports
Tuesday.