U.S. Stocks Fall As Oil Drop Weighs On Energy Shares

By Joseph Adinolfi Markets MarketWatch Pulse

U.S. stocks opened lower as falling oil prices weighed on the shares of energy companies. The S&P 500 index shed four points, or 0.2%, to 2,288. The Dow Jones Industrial Average retreated 53 points, or 0.3%, to 20,038. The Nasdaq Composite Index slipped 12 points, or 0.2%, to 5,662. The American Petroleum Institute said late Tuesday that the U.S. crude supply increased by 14.2 million barrels last week, far beyond the 2.5 million expected. Official weekly inventory data from the Energy Information Administration due later Wednesday will be closely watched. Oil prices fell 1% to $51.60 in recent trade. Time Warner Inc. shares rose after the company reported stronger than expected quarterly earnings. Alaska Air Group Inc. jumped after reporting a double-digit increase in quarterly revenue. Zillow Group Inc. shares fell after the real-estate website forecast a wider loss for the year than Wall Street had expected.

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