Stocks end mixed after a choppy trading day. Financials were early gainers and lifted the broader market initially but banks and brokerages turned mixed late in the trading day as the initial positive reaction to TARP payback news faded. Crude oil futures finished above $70 a barrel for the first time in seven months on Tuesday.

Stocks were mixed earlier in the session, initially losing morning gains after it was reported that April wholesale inventories slipped 1.4%, more than expectations for a 1.2% decline. The previous month's report was revised lower to reflect a 1.8% decline. Wholesale inventories have declined for eight consecutive months.

The Nasdaq, however, managed to hold slim gains throughout the morning, still buoyed by semiconductors. Texas Instruments (TXN) lifted the chip sector after saying it expected Q2 sales between $2.3 to $2.5 bln, above its previous guidance between $1.95 to $2.4 bln. EPS are seen between $0.14 to $0.22 per share, above its previous view of $0.10 to $0.15 per share. The Street estimate is $2.2 bln in revs and earnings of $0.10 per share.

The banking sector was mixed after Treasury Department said it approved plans by 10 of the nation's largest banks to repay $68 billion in government bailout money. Capital One (COF) shares were higher after it said it expects to repurchase the $3.55 billion in preferred shares the company issued. Northern Trust (NTRS) also rose on news of its payback. However, other banks such as JP Morgan Chase (JPM) and Bank of New York (BK) continued to linger in the red despite announcing their paybacks.

Interest rates are also in the spotlight after recent gains in 10-year Treasury yields. The benchmark 10-year yield is slightly lower this morning, though. The Fed's Richard Fisher said recent yield rises are due to supply-demand factors, not due to a lack of confidence in the Fed's handling of the economy. He also said there is "less risk of peril" in the current economic outlook.

Crude oil futures advanced nearly 3% and finished above $70 a barrel for the first time in seven months on Tuesday, lifted by weakness in the dollar and forecasts of higher prices from the government. In Washington, the Energy Information Administration said crude oil prices are expected to average $58.70 a barrel this year, up from the $52 a barrel the EIA had forecast a month ago.

Gold is up for the first day in three sessions as the dollar declined against its European counterparts.


-NYSE up 33.01 (0.5%) to 6,101.57.

-DJIA down 1.51 (0.02%) to 8,763.

-S&P 500 up 3.29 (0.4%) to 942.43.

-Nasdaq up 17.7 (1%) to 1,860.

GLOBAL SENTIMENT

Hang Seng down 1.07%

Nikkei down 0.80%

FTSE down 0.01%

DOWNSIDE MOVERS

(-) ZQK seeing continued downside reaction to evening earnings miss.

(-) PG slips as report says COO Robert McDonald will replace longtime CEO A.G. Lafley.

(-) CRDN lowers FY09 guidance.

UPSIDE MOVERS

(+) TXN continues to draw buy momentum after upbeat guidance issued in evening session.

(+) JPM gaining with broader financial sector ahead of TARP payback news.

(+) MW seeing continued upside interest after better-than-expected earnings.

(+) GNBT presents positive study results for diabetes treatment.

(+) MRNA gets FDA OK for generic Calcitonin-Salmon nasal spray for osteoporosis.

(+) SAY reports profit.

(+) ADCT gets favorable plug on Jim Cramer's Mad Money.

(+) TASR inks new order.

(+) MCHP guides for Q1 results above Street.

(+) CSIQ completes two demonstration projects.