Stocks Ended Lower As Oil Eased Off Highs

U.S. stocks closed slightly lower on Thursday as oil futures pulled back from 10-month highs. The Dow Jones Industrial Average slipped 19.86 points, or 0.11%, to 17,985.19. The S&P 500 was down 3.64 points, or 0.17%, to 2,115.48. The Nasdaq Composite fell 16.03 points, or 0.32%, to 4,958.62.

Oil prices finished lower after hitting their highest levels in almost 11 months, buoyed by global production disruptions and falling U.S. crude inventories. July West Texas Intermediate crude shed 67 cents, or 1.3%, to $50.56 a barrel. August Brent crude lost 56 cents, or 1.1%, to $51.95 a barrel.

Google co-founder Larry Page is backing two start-ups that are working on flying cars, including funding one of them with more than $100 million so far, Bloomberg said on Thursday, citing sources.

A French court fined Uber Technologies [UBER.UL] 800,000 euros ($907,000) on Thursday for running an illegal taxi service with non- professional drivers and slapped smaller fines on two of its executives in the first such criminal case in Europe.

Viacom is closing in on a deal to sell 49% of Paramount, at a price that could add $10 a share to Viacom’s stock price, although the goal to have something locked up by the end of this month “is going to slip somewhat,” CEO Philippe Dauman told an investor gathering this morning.