Oil Rebounds

Stocks continue to push lower as selling pressure intensifies. All three of the major indices are now in negative territory, trading just above the morning's worst levels.

The drop in stock prices follows a rebound in oil prices. Crude had fallen below $126 per barrel in early electronic trading, but is now showing a 0.5% gain and trading at $129.50 per barrel.

Oil's rebound has prompted buyers to enter the energy sector (+0.2%), which had been the worst performing economic sector this morning. Now, financials (-1.6%) are underperforming the other sectors.