Stocks Ended Mostly Lower amid Mixed Trade Signals

U.S. stocks ended mostly lower on Wednesday, as investors reacted to conflicting signals about the path forward in U.S.-China trade talks. The Dow Jones Industrial Average fell 11.40 points, or 0.04%, to 26,536.82. The S&P 500 fell 3.60 points, or 0.12%, to 2,913.78. The Nasdaq Composite rose 25.25 points, or 0.32%, to 7,909.97.

U.S. oil prices climbed by nearly 3% on Wednesday, as the U.S. government reported a weekly drop of nearly 13 million barrels in domestic crude stocks. August West Texas Intermediate crude rose $1.55, or 2.7%, to settle at $59.38 a barrel. August Brent crude gained $1.44, or 2.2%, to $66.49 a barrel.

The Federal Reserve’s widely-expected interest rate cut next month is an exercise in “risk management” — but a new easing cycle is not entirely assured, banking giant UBS said on Wednesday.