Stocks End Mostly Lower as Oil Prices Sink

U.S. stocks closed mostly lower on Thursday after downbeat economic data, as energy shares sank with oil prices. The Dow Jones Industrial Average fell 10.15 points, or 0.06%, to 18,214.42. The Standard & Poor’s 500 fell 3.12 points, or 0.15%, to 2,110.74. The Nasdaq composite rose 20.75 points, or 0.42%, to 4,987.89.

World oil prices fell sharply Thursday as the market appeared to do a double-take on the US oil inventories report showing US crude stockpiles hit a fresh record. West Texas Intermediate for April, dived $2.82 to close at $48.17 a barrel on the New York Mercantile Exchange.

Department store chain J.C. Penney Co Inc reported a 3 percent rise in quarterly sales as demand for household goods, apparel and jewelry increased during the holiday shopping season. The company posted a loss of $59 million, or 19 cents per share, in the fourth quarter ended Jan. 31, compared with a profit of $35 million, or 11 cents per share a year earlier.