Stocks Ended Mixed, Oil Moved Sharply Higher

U.S. stocks ended mixed on Thursday as investors continue to process trade war progress and grapple with weeks of volatility. The Dow Jones Industrial Average advanced 70.11 points, or 0.29%, to 24,597.38. The S&P 500 was down 0.53 point, or 0.02%, to 2,650.54. The Nasdaq Composite fell 27.98 points, or 0.39%, to 7,070.33.

Oil futures moved sharply higher late in Thursday’s trading session, after a news report said that Saudi Arabia plans to cut shipments to U.S. refiners to avoid an expansion of U.S. stockpiles. West Texas Intermediate crude for January delivery rose $1.43, or 2.8%, to settle at $52.58 a barrel. February Brent crude added $1.30, or 2.2%, to end at $61.45 a barrel.

The U.S. ran a $205 billion deficit in November, a jump of $66 billion, or 48%, from the same month a year ago, the Treasury Department announced Thursday.