Stocks Ended Lower as Crude Resumed Slide

U.S. stocks ended lower on Thursday as the dollar advanced and the benchmark U.S. crude oil contract tumbled into the red. The Dow Jones Industrial Average fell 117.16 points, or nearly 0.65%, to 17,959.03. The S&P 500 fell 10.23 points, or 0.49%, to 2,089.27. The Nasdaq Composite edged up 9.55 points, or 0.19%, to 4,992.38.

Benchmark U.S. oil sank 70 cents to close at $43.96 a barrel in New York, extending a slump that has slashed prices by more than half over the past year.

Nike reported fiscal third-quarter earnings of 89 cents per share on revenue of $7.46 billion, versus Wall Street’s projections of 84 cents per share on $7.62 billion in revenue, according to a consensus estimate from Thomson Reuters.

Bank of New York Mellon Corp. agreed to pay $714 million to resolve a series of lawsuits and probes that accused the custody bank of giving some clients worse prices on foreign currency trades than they had been promised, authorities said Thursday.

Gov. Jerry Brown and top state lawmakers Thursday called for $1 billion in emergency drought spending to help safeguard urban and rural water supplies amid one of California’s worst dry spells on record.