Stocks Ended Lower as Oil Rout Continued

U.S. stocks ended lower on Tuesday, as a continued rout in oil prices weighed on energy and materials stocks. The Dow Jones Industrial Average fell 162.51 points, or 0.92%, to 17,568.00. The S&P 500 fell 13.48 points, or 0.65%, to 2,063.59. The Nasdaq Composite was down 3.57 points, or 0.07%, to 5,098.24.

Oil futures ended lower with Brent down over 1 percent on Tuesday after plumbing near seven-year low. WTI settled down 14 cents at $37.51, after sliding to $36.64 earlier. Brent finished the session down 47 cents at $40.26, after a session low at $39.81.

Southwest Airlines Co. said Tuesday that a key revenue metric could fall in the current quarter. The airline estimates its fourth-quarter 2015 operating revenue per available seat mile to be flat to down 1% compared with the same period last year.

Dave & Buster’s Entertainment Inc. (PLAY) posted robust quarterly results. It reported it swung to third-quarter earnings of $4.6 million, or 11 cents a share, from a loss of $2.2 million, or 13 cents a share, a year earlier. Revenue grew 17.9% to $192.8 million while same-store sales rose 8.8%.

Smith & Wesson Holding Corp. (SWHC), the gun maker, topped Wall Street estimates. The company reported adjusted fiscal second-quarter earnings of 25 cents a share on revenue of $143.2 million. Smith & Wesson expects adjusted third-quarter earnings of 27 cents to 29 cents a share on revenue of $150 million to $155 million.

Struggling Morgan Stanley (MS) slashed 1,200 jobs around the world in recent days, a person familiar with the matter told CNNMoney. The cuts were broad-based and eliminated 25% of the positions within the fixed income and commodities businesses, the person said.