S&P Market News Update

A late-afternoon rally, triggered by a rebound in beaten-down oil prices, was not enough to lift U.S. stocks out of negative territory on Wednesday. The key benchmarks closed with losses for the fourth straight session.

The S&P 500 SPX, -0.58%  declines were broad-based, with eight of 10 main industry groups ending lower. Financials and materials led losses, while utilities rallied. Beaten-down energy sector stocks swung from a 2% loss to end with a gain of 0.1%.