Stocks Ended Mostly Higher, Dow Lagged Behind

U.S. stocks ended mostly higher on Wednesday , with the Nasdaq Composite logging its fourth consecutive daily gain while the Dow industrial Average finished lower, as investors digested hawkish comments from Federal Reserve speakers. The Dow Jones Industrial Average was down 42.18 points, or 0.20%, to 20,659.32. The S&P 500 advanced 2.56 points, or 0.11%, to 2,361.13. The Nasdaq Composite was up 22.41 points, or 0.38%, to 5,897.55.

Chicago Fed President Charles Evans said he favors further interest rate hikes this year, while Boston Fed President Eric Rosengren said the Fed should raise rates three more times in 2017.

Oil prices rallied Wednesday, settling at their highest level in roughly three weeks after data from the Energy Information Administration showed a weekly rise in U.S. crude inventories that was below some market forecast. May West Texas Intermediate crude rose $1.14, or 2.4%, to settle at $49.51 a barrel. May Brent gained $1.09, or 2.1%, to $52.42 a barrel.