Stocks rose on Monday as crude oil prices fell and offset investor uncertainty about the outcome of the U.S. presidential election. Crude oil futures on the New York Mercantile exchange sank more than $2 below $50 a barrel on technical selling. The market later regained some ground, and NYMEX oil futures were off $1.41 to $50.35. Record oil prices have hampered stocks for weeks as investors fret over the effect of high energy prices on profits. As crude fell on Monday, economically sensitive stocks like United Technologies Corp. and Caterpillar Inc. pulled the Dow higher. The Dow Jones industrial average was up 34.88 points, or 0.35 percent, at 10,062.35 and the Standard & Poor's 500 Index was up 1.51 points, or 0.13 percent, at 1,131.71. The Nasdaq Composite Index was up 5.74 points, or 0.29 percent, at 1,980.73. Nasdaq drew support from PeopleSoft Inc. as its shares shot up nearly 11 percent after rival Oracle Corp., raised its offer for the software company $3 per share to $24 in a hostile takeover attempt. Before Tuesday's election, Wall Street's immediate concern seemed to be on having a quick, clear decision. --More 0029 Local Time 2129 GMT
