Stocks Ended Mostly Higher, S&P 500 Eked Out Record Closing High

U.S. stocks ended mostly higher on Wednesday, with S&P 500 eking out record closing high as energy stocks jumped. The Dow Jones Industrial Average rose 59.87 points, or 0.20%, to 29,883.79. The S&P was up 6.56 points, or 0.18%, to 3,669.01. The Nasdaq Composite declined 5.74 points, or 0.05%, to 12,349.37.

Oil futures settled higher on Wednesday as traders bet that the OPEC+ alliance will extend output cuts into the new year and U.S. government data revealed a decline in domestic crude inventories for a a second week in a row. West Texas Intermediate crude for January delivery rose 73 cents, or 1.6%, to settle at $45.28 a barrel. February Brent crude added 83 cents, or nearly 1.8%, at $48.25 a barrel.