Stocks Ended Mixed; Nasdaq Dragged Down by Tech

U.S. stocks ended mixed on Thursday, with the Nasdaq dragged lower by a poor showing from tech stocks. The Dow Jones Industrial Average rose 85.54 points, or 0.39%, to 21,796.55. The S&P 500 fell 2.41 points, or 0.10%, to 2,475.42. The Nasdaq Composite slipped 40.56 points, or 0.63%, to 6,382.19.

Oil prices notched another two-month high on Thursday, as support from four weeks of falling U.S. crude supplies contributed to a fourth-consecutive session of gains. September West Texas Intermediate crude rose 29 cents, or 0.6%, to settle at $49.04 a barrel. September Brent crude added 52 cents, or 1%, to $51.49 a barrel.

Amazon.com Inc. (AMZN) reported much lower earnings than expected Thursday. The e-commerce giant reported net income of $197 million, or 40 cents a share, on sales of $38 billion, a profit decline of 77% from the same quarter a year ago.

Intel Corp. (INTC) posted better-than-expected quarterly earnings and raised its full-year guidance. Intel reported its second-quarter earnings more than doubled to $2.8 billion, or 58 cents a share, from $1.3 billion, or 27 cents a share, a year earlier. Revenue grew 9% to $14.8 billion.