Stocks Ended Mostly Higher, Oil Futures Climbed

U.S. stocks ended mostly higher on Wednesday, with the Dow and S&P 500 posting modest gains and the Nasdaq Composite giving up its advance. The Dow Jones Industrial Average rose 36.12 points, or 0.12%, to 30,723.60. The S&P 500 was up 3.86 points, or 0.10%, to 3,830.17. The Nasdaq Composite was down 2.23 points, or 0.02%, to 13,610.54.

Oil futures climbed on Wednesday to end at another one-year high, finding support from expectations that economic stimulus measures will boost energy demand and a modest weekly decline in U.S. crude inventories. West Texas Intermediate crude for March delivery rose 93 cents, or 1.7%, to settle at $55.69 a barrel. April Brent crude added $1, or 1.7%, to $58.46 a barrel.

The Institute for Supply Management’s January services purchasing managers’ index increased more than expected, pointing to a faster pick-up in activity in the beaten-down U.S. services sector. The January PMI came in at 58.7, up from the 57.7 reported for February, the Institute for Supply Management said Wednesday.