Wall Street Wrap - Still Tough Going

Wall Street fell on Wednesday, as oil prices surged to over $112 before backing up to under $111. The weekly inventory report from the EIA showed a deep draw from storage. Citigroup (NYSE: C) gapped higher to open, as it found private equity interest for $12 billion of its leveraged loans. Morgan Stanley (NYSE: MS), coming off a tough write-up in Barron's this past weekend, caught further negative publicity on Thursday after it announced that it was having trouble valuing some more of its assets. MS is also selling a portion of its stake in MSCI, its index group. UPS (NYSE: UPS) warned for its current quarter, based on economic softness. Boeing (NYSE: BA) said its new 787 would be delayed further. In other words, it's still tough going out there...



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