Stocks Ended Mostly Lower, Dow Fell Triple Digits

U.S. stocks closed mostly lower on Thursday, with the Dow Jones Industrial Average falling triple digits as shares of 3M Co. were routed following disappointing quarterly results. The Dow Jones Industrial Average lost 134.97 points, or 0.51%, to 26,462.08. The S&P 500 edged down 1.08 points, or 0.04%, to 2,926.17. The Nasdaq Composite climbed 16.67 points, or 0.21%, to 8,118.68.

Oil prices finished lower on Thursday, as traders continued to consider the likelihood that major producers will increase supply in response to tougher U.S. action against Iran’s oil market. West Texas Intermediate crude for June delivery fell 68 cents, or 1%, to settle at $65.21 a barrel. June Brent crude fell 22 cents, or 0.3%, to finish at $74.35 a barrel.

Starbucks (SBUX) on Thursday reported better-than-expected earnings, boosted by strong sales in U.S. and China, and raised its full year guidance. It posted earnings per share of 60 cents per share during its fiscal second quarter, compared to 53 cents per share a year ago. Revenue was $6.31 billion, versus $6.03 billion in the comparable quarter of 2018.

Amazon (AMZN) reported earnings of $7.09 per share, crushing expectations of $4.67. The company reported $59.7 billion in sales for the first quarter of 2019 on Thursday, which is inline with analyst estimates.