Stocks Ended Lower on Health Care Bill Delay

U.S. stocks closed slightly lower on Thursday, as a delay in a closely watched health-care vote raised questions about the Trump administration’s ability to win passage of its ambitious legislative agenda. The Dow Jones Industrial Average lost 4.72 points, or 0.02%, to 20,656.58. The S&P 500 fell 2.49 points, or 0.11%, to 2,345.96. The Nasdaq Composite slid 3.95 points, or 0.07%, to 5,817.69.

Republicans postponed the planned vote on their legislation to overhaul the Affordable Care Act, after last-minute negotiations and personal lobbying from President Donald Trump failed to gain majority support for the bill only hours ahead of a planned vote in the House.

Oil prices extended their streak of losses on Thursday, as traders focused on the persistent oversupply of crude in the global market that has weighed on prices in recent years. May West Texas Intermediate crude lost 34 cents, or 0.7%, to settle at $47.70 a barrel. May Brent crude fell 8 cents, or 0.2%, to $50.56 a barrel.

Ford Motor Co. just flashed a warning to investors that it’s hard to keep profits rolling in a slowing market while also trying to reinvent your company for an autonomous age. Profit may fall by half in the first quarter, a bigger drop than analysts predicted, as Ford ratchets back production and spends more to create the self-driving cars and electric vehicles the company has said will drive its future.