NATIONAL

Wall Street closed moderately lower Tuesday after worries about the impact of high oil prices on the economy triggered a late-day drop, erasing an earlier moderate advance.

Upbeat earnings from homebuilder Toll Brothers Inc. and a rebound in oil and gold prices had lifted stocks through most of the session following their recent heavy losses. But an afternoon news report that quoted Energy Secretary Sam Bodman as saying soaring energy prices could damage economic growth ignited traders’ inflation concerns and set off renewed selling.

According to preliminary calculations, the Dow lost 26.98, or 0.24 percent, to 11,098.35. Broader stock indicators shed earlier gains. The Standard & Poor’s 500 index dropped 5.49, or 0.43 percent, to 1,256.58; the Nasdaq composite index fell 14.10, or 0.65 percent, to 2,158.76.

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LOCAL


Among local gainers were Hi-Shear Technology Corp. rose 9.7 percent to $10.85. Arrowhead Research Corp. gained 5.5 percent to $5.48. Youbet.com, which reported a record handle for its betting business on Preakness Race Day, was up 4 percent to $4.91. First Consulting Group inc. rose 4.7 percent to $8.65. Skechers USA Inc., which has its target share price raised to $33 from $18 at Brean Murray. added 3 percent to close at $26.66.

Among those losing value were Homestore Inc, down 4.8 percent to $5.37, and Anworth Mortgage Asset Corp. down 3.8 percent to $7.82. DTS inc. fell 3.6 percent to $19.12. California Pizza Kitchen Inc. lose 3.6 percent to $28.81.