Stocks Close Lower, Hurt by Weakness in Financials, Industrials
By: CNBC.com
News Corp.'s Web network MySpace has been in talks for several months with online auction company eBay about a partnership, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.
The idea is to let MySpace users buy and sell items from each other using eBay's online-commerce technology and its PayPal payment system, the Journal said, adding that MySpace users would be able to post items for sale on their profiles, and their eBay auctions would be automatically updated, according to a person close to the discussions.
Officials from MySpace and eBay were not immediately available to comment.
Stocks finished lower as new worries about the mortgage lending market depressed financial shares and a late surge in oil prices drove energy stocks higher. "Crude rallied 4% in 10 minutes and it just turned energy stocks on a dime," said Michael Driscoll, Senior Managing Director in Equity Trading at Bear Stearns.
