Traders work on the floor of the New York Stock Exchange, April 27, 2009. Dow managed a 50-point gain while S&P and Nasdaq fell on Tuesday. (Xinhua/Reuters file?Photo)
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NEW YORK, May 12 (Xinhua) -- Dow managed a 50-point gain while S&P and Nasdaq fell on Tuesday as financials and technology sectors suffered profit-taking, and fresh stock offerings spurred dilution concerns.

Ford shares tumbled 17.6 percent to 5.01 dollars after the second-largest U.S. automaker said it will issue 300 million shares of common stock in a public offering and use at least some of the money for a union-run medical trust. In addition, Anadarko, the second-largest independent U.S. oil and natural gas producer, slumped six percent as the company plans to sell 30 million shares.

Meanwhile, General Motors plunged more than 20 percent, as the market worried that the bankruptcy of the auto giant is more likely.

Energy shares were boosted as the crude futures in New York topped 60 U.S. dollars a barrel, the highest trading price in about 6 months. Exxon Mobil Corp rose 1.55 dollars, or 2.24 percent, to 70.82 dollars a share.

In economic news, U.S. trade gap widened in March for the first time in eight months, signaling weak overseas demand.

Investors are focused on the nation's consumer spending, which accounts for around 70 percent of the U.S. economy. First-quarter earnings results are expected from retail giants such as Wal-Mart Stores Inc. and Macy's Inc. this week. And the U.S. Commerce Department will report retail sales for April on Wednesday.

The Dow Jones rose 50.34, or 0.60 percent, to 8,469.11. Broader indexes traded lower. The Standard & Poor's 500 index dipped 0.89,or 0.10 percent, to 908.35, and the Nasdaq fell 15.32, or 0.88 percent, to 1,715.92.

Oil touches 60 dollars as U.S. currency, stocks dip

NEW YORK, May 12 (Xinhua) -- Crude oil briefly touched 60 U.S. dollars in a choppy session on Tuesday as investors reacted to the fall of dollar, U.S. stocks and energy demand.

Light, sweet crude for June delivery rose 35 cents to settle at 58.85 dollars a barrel on the New York Mercantile Exchange.

U.S. trade deficit rises in March

WASHINGTON, May 12 (Xinhua) -- The U.S. trade deficit rose to 27.6 billion U.S. dollars in March, the first monthly increase since July, the Commerce Department reported Tuesday.

The March deficit was slightly lower than the 29 billion U.S. dollar gap that economists had expected and was 5.5 percent higher than February's revised trade gap of 26.1 billion U.S. dollars, which had been the lowest since November 1999.