Stocks Ended Lower as Investors Weighed Trade, Trump

U.S. stocks ended slightly lower on Thursday as investors continued to weigh trade-related developments against uncertainty around an impeachment inquiry of President Donald Trump. The Dow Jones Industrial Average lost 79.59 points, or 0.30%, to 26,891.12. The S&P 500 was down 7.25 points, or 0.24%, to 2,977.62. The Nasdaq Composite retreated 46.72 points, or 0.58%, to 8,030.66.

U.S. oil prices trimmed their losses on Thursday and global benchmark prices finished higher, as the Pentagon announced that it would deploy equipment and personnel in support of Saudi Arabia following attacks on its oil facilities earlier this month. West Texas Intermediate crude for November delivery edged down by 8 cents, or 0.1%, to settle at $56.41 a barrel. November Brent crude finished 35 cents, or 0.6%, higher at $62.74 a barrel.

Micron Technology Inc., the memory-chip maker, reported another large earnings decline and predicted a disappointing holiday season. The company reported fiscal fourth-quarter net income of $561 million, or 49 cents a share, compared with $4.33 billion, or $3.56 a share, in the year-ago period. Micron said it expects adjusted earnings of 39 cents to 53 cents a share on revenue of $4.8 billion to $5.2 billion for its first fiscal quarter.

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