Stocks Ended Mixed, Nasdaq Hit Record High

U.S. stocks ended mixed on Wednesday, with the Nasdaq Composite closed at a record for a fourth session in a row, as solid earnings supported technology. The Dow Jones Industrial Average fell 32.67 points, or 0.16%, to 20,943.11. The S&P 500 edged up 2.71 points, or 0.11%, to 2,399.63. The Nasdaq Composite rose 8.56 points, or 0.14%, to 6,129.14.

Oil futures rallied Wednesday, posting their largest one-day gain since December, after U.S. government data revealed the biggest weekly decline in domestic crude supplies so far this year. June West Texas Intermediate crude rose $1.45, or 3.2%, to settle at $47.33 a barrel. July Brent crude added $1.49, or 3.1% to $50.22 a barrel.

The federal government ran a budget surplus of $182.4 billion in April, up $76.4 billion from the same month last year, the Treasury Department said Wednesday.

Snap reported quarterly financial results for the first time on Wednesday, posting revenue that missed estimates and slower-than-expected user growth. The company spent $2.0 billion on stock-based compensation expenses after its initial public offering, ballooning net losses for the quarter to $2.2 billion.

Whole Foods Market Inc. (WFM) on Wednesday reported fiscal second-quarter earnings of $99 million. The Austin, Texas-based company said it had profit of 31 cents per share. Earnings, adjusted for non-recurring costs, were 37 cents per share.