Oil's Surge Grounds Equities

A new record high in crude oil and a consumer-confidence reading that recalled 1980's recession hampered the stock market Friday, leaving major indicators mixed.

Unexpectedly upbeat housing data and a late round of stock buying as traders settled expiring options bets lent the market support.

The Dow Jones Industrial Average was off nearly 100 points at its intraday low but finished down just 5.86 points at 12986.80. The blue-chip indicator's two energy components, Exxon Mobil and Chevron, rose 1.5% and 1.9%, respectively.

Crude futures soared to a new intraday record near $128 a barrel and finished up $2.17, or 1.8%, ...