US markets end mixed

By CNBCs Julia Boorstein
 
The US markets ended the day mixed; the Dow Jones rose 9-points giving up gains in the final hour, the S&P 500 fell more than 3 points and the Nasdaq extended losses by 10.52 points.
 
Stocks were wavering throughout the trading day between positive and negative territory as remarks on inflation from Federal Reserve Chairman Ben Bernanke raise concerns the Fed may hike interest rates later this year. Bernanke says the recession is now less likely and the Fed is going more concerned with inflationary factors soaring fuel costs.
 
It was another down day for crude oil, settling at USD 131.31 cents a barrel prices falling sharply on forecasts of a lower global demand. The dollar however, rallying on news of higher rates because there have been more incentive to buy the green bag. The currency is experiencing its biggest two-day gain since 2005.
 
Shares of Dow component Coca Cola rose 3% on the day. The Deutsche Bank analyst telling investors it’s a good time to buy, thanks to strong international growth.
 
Wall Street Action

• Dow up 9 pts, S&P 500 fell 3 pts & Nasdaq lost 10.52 points
• Bernanke's comments on inflation raised concerns about rate hike later this year
• Bernanke says recession now less likely
• Fed more concerned about inflationary impact of soaring fuel costs
• Crude at $131/bbl levels, prices falling sharply on lower global demand
• Dollar rallied on speculation about higher rates
• Biggest 2-day gain for the dollar since 2005
• Coke shares up 3%, Deutsche bank analyst says good time to buy