Topsy Turvy Indexes Close Mixed, Oil Falls, Apple Drops

US Indexes closed mixed on inflation fears, weak dollar and energy concerns with the Dow Jones Industrial Average closing up +70.51 to 12280.32, the Nasdaq dipped -15.10 to 2459.46 and the S&P 500 climbed +1.08 to 1361.76.

Apple (AAPL | Quote | Chart | News | PowerRating) dropped 2.11% or $3.91 to $181.73/share after lowering the price of the hotly anticipated 3G iPhone.

Lehman Brothers (LEH | Quote | Chart | News | PowerRating) fell another 8.27% or $2.67 to $29.62 due to an unexpectedly large 2nd quarter loss of 3 billion.

Alcoa (AA | Quote | Chart | News | PowerRating) climbed 7.45% or $2.92 to $42.14/share after a Citibank analyst stated it may go to $60.00/share should it become a takeover candidate.

DreamWorks (DWA | Quote | Chart | News | PowerRating) added 5.26% or $1.58 to $31.64 on the smash hit "Kung Fu Panda" opening weekend success.

Oil dropped $4.03 after Saudis say high price not justifiable, Gold gave back .90 cents to $898.10 and the VIX slowed down 1.78% to 23.14.