Wall St ends higher as dollar gains, oil rally slows

CNBC's Rebecca Jarvis - US stocks ended higher as the dollar gains and the oil rally slows. The Dow was up over 130 points, the Nasdaq gained 43 points and the S&P 500 added more than 15 points. The price of crude oil slipped for the first time in 5 days due to stronger dollar and concerns of high prices were eating into demand. Crude fell more than USD 50/bbl since Friday’s record close.

Meantime MBIA posted a USD 2.4 billion loss after taking heavy charges to write down liabilities. And JP Morgan Chase CEO James Dimon said that credit crisis is 75% over but the recession is just beginning.

Wall Street Action

• Stocks gain as dollar rallies and oil dips
• Dow up over 130 pts, Nasdaq gains 43 pts
• S&P 500 adds more than 15 pts
• Crude slips for the 1st time in 5 days on stronger dollar
• Crude down on concerns that high prices are eating into demand
• JPMorgan CEO says credit cisis 75% over but recession just beginning