Stocks Ended lower, Oil Snapped Losing Streak

U.S. stocks closed lower on Wednesday and domestic oil snapped its 12-day losing streak. The Dow Jones Industrial Average fell 205.99 points, or 0.81%, to 25,080.50. The S&P 500 dropped 20.60 points, or 0.76%, to 2,701.58. The Nasdaq Composite shed 64.48 points, or 0.90%, to 7,136.39.

Oil prices finished higher on Wednesday, as traders weighed rising crude supplies against lingering questions about demand. West Texas Intermediate oil for December delivery rose 56 cents, or 1%, to settle at $56.25 a barrel. January Brent crude added 65 cents, or 1%, to $66.12 a barrel.

Uber Technologies Inc said on Wednesday that growth in bookings for its ride-hailing and delivery services rose 6 percent in the latest quarter. The San Francisco-based firm lost $1.07 billion for the three months ending Sept. 30, a 20 percent increase from the previous quarter but down 27 percent from a year ago.

Cisco Systems Inc. (CSCO) reported fiscal first-quarter net income of $3.55 billion, or 77 cents a share, compared with $2.39 billion, or 48 cents a share, in the year-ago period.Revenue rose to $13.07 billion from $12.14 billion in the year-ago quarter.