Stocks Ended Mixed, Dow Weighed Down by IBM

U.S stocks ended mixed on Wednesday, as the Dow Jones Industrial Average weighed down by component IBM as investors looked past better-than-expected earnings. The Dow Jones Industrial Average fell 38.56 points, or 0.16%, to 24,748.07. The S&P 500 gained 2.25 points, or 0.08%, to 2,708.64. The Nasdaq Composite added 14.14 points, or 0.19%, to 7,295.24.

Oil prices climbed Wednesday to settle at their highest levels in nearly 3 ½ years, following a surprise decline in weekly U.S. crude supplies and expectations that major oil producers will remain committed to curbing production. May West Texas Intermediate crude rallied by $1.95, or 2.9%, to settle at $68.47 a barrel. June Brent gained $1.90, or 2.7%, to $73.48 a barrel

“Robust” business borrowing, rising consumer spending, and tight labor markets indicate the U.S. economy remains on track for continued growth, the Federal Reserve reported on Wednesday, with the risks of a global trade war the one big outlier.

SunPower Corp (SPWR) on Wednesday said it would buy U.S. solar panel maker SolarWorld Americas, expanding its domestic manufacturing as it seeks to stem the impact of Trump administration tariffs on panel imports.