Stocks Ended Mostly Lower, Led by Financials

U.S. stocks closed mostly lower on Thursday, led by a selloff in the financial and consumer discretionary sectors. The Dow Jones Industrial Average fell 22.86 points, 0.10%, to 21,784.78. The S&P 500 slipped 0.44 point, or 0.02%, to 2,465.10. The Nasdaq Composite edged up 4.55 points, or 0.07%, to 6,397.87.

U.S. oil prices closed lower Thursday after the U.S. government reported the first climb for domestic crude inventories in 10 weeks. October West Texas Intermediate crude fell 7 cents, or 0.1%, to settle at $49.09 a barrel. November Brent crude edged up by 29 cents, or 0.5%, to $54.49 a barrel.

American Outdoor Brands Corp. (AOBC), the gunmaker, posted a loss in its most recently ended quarter. It swung to a loss of $2.2 million, or 4 cents a share, from a profit of $35.2 million, or 62 cents a share, a year earlier. Revenue fell to $129 million versus $207 million.

Eli Lilly and Co. on Thursday announced it will cut 3,500 positions as the drugmaker focuses on developing new medicines and improving its cost structure.