The Nasdaq led a broader market advance Thursday after oil prices slumped nearly $5 a barrel on news out of China that could mean less demand and lower prices.
A tech rally propelled the Nasdaq and lower oil prices helped the broader market stabilize, but gains were limited by Citigroup's warnings it will take substantial second-quarter mortgage-related writedowns.
Imagine going to your local grocery store and paying over $8 for a jar of Jif peanut butter. How about $5.50 for a loaf of white bread, $6.50 for a gallon of milk or $7.19 for a half-gallon of orange juice?