Stocks Ended Lower, S&P Below 50-day Moving Average

U.S. stocks ended modestly lower on Wednesday, with the S&P 500 closed below its 50-day moving average of 2,351, as investors remained cautious amid persistent geopolitical risks. The Dow Jones Industrial Average fell 59.44 points, or 0.29%, to 20,591.86. The S&P 500 lost 8.85 points, or 0.38%, to 2,344.93. The Nasdaq Composite lost 30.61 points, or 0.52%, to 5,836.16.

Oil prices on Wednesday halted their longest streak of gains so far this year, as pressure from concerns over rising U.S. crude production outweighed support from the first weekly decline in U.S. crude supplies in a month. May West Texas Intermediate crude lost 29 cents, or 0.5%, to settle at $53.11 a barrel. June Brent crude shed 37 cents, or 0.7%, to $55.86 a barrel.

Earnings season kicks off this week, with JPMorgan Chase (JPM), Citigroup (C), and Wells Fargo (WFC) reporting on Thursday. The financials—including the big banks, insurers, and asset management companies—are expected to be a standout during the first quarter earnings season, with earnings per share growth estimated at 10.5% by the street.