quarter profits on weak trading results and hefty legal costs. ID:nWEN3672 Also in the banking sector, shares of Bear Stearns Cos. rose 0.6 percent to $103.79 after the firm said it faces a possible Securities and Exchange Commission fine over improper mutual fund trading. ID:nN22663207 In energy markets, light, sweet crude for August delivery rose 6 cents to $59.10. Investors awaited the 10:30 a.m. (1430 GMT) release of weekly U.S. oil inventory numbers, which are expected to show supply down for the third week in a row but still well above average. ID:nSP21873 If the drop is much sharper than the 1.7 billion decline expected, it could "absolutely" drive crude futures higher, said Robert Basel, managing director of Citigroup Global Markets. Higher oil prices are generally a negative for stocks since they drive up corporate expenses and eat into consumer discretionary spending.
