U.S. markets falter on Friday

NEW YORK, Feb. 8 (UPI) -- U.S. markets could not mount a comeback Friday as oil prices surged over a dollar per barrel on the New York Mercantile Exchange.

Oil ministers from the Organization of Petroleum Exporting Countries said world supplies are stable and hinted at possible cuts in production.

The Dow Jones industrial average slipped 0.5 percent at the close, down 64.87 points to 12,182.13.

The Standard & Poor's 500 index lost 5.62 points or 0.42 percent to 1,331.29.

The Nasdaq composite index rose slightly, up 11.82 points to 2,304.85, a gain of 0.52 percent.

On the New York Stock Exchange, 1,084 stocks advanced while 2,038 declined on volume of 3.730 billion shares traded.

The 10-year Treasury note rose 1-1/32, yielding 3.647 percent.

The dollar lost ground. The euro traded at $1.4505, compared with $1.4473 on Thursday. The dollar traded at 107.31 yen, down from 107.52 yen on Thursday.

In Tokyo, the Nikkei average dropped 1.4 percent Friday, down 189.91 points to 13,017.24.

In London, the FTSE 100 rose 59.90 points to 5,784.00, up 1.05 percent.