West Texas Intermediate crude futures declined 2% to $50.34 a barrel. Contracts for Brent crude, the global benchmark, fell 1.6% to $53.08 a barrel.
In minutes from their May 2-3 meeting, "most" members of the Fed's monetary policy committee showed a willingness to hike interest rates again "soon" despite leaving them unchanged at a range of 0.75% to 1% at that gathering. The pace of subsequent rate hikes appears a point of debate, though, with several members backing a faster pace, while a few supported slower increases.
Analysts warned that hospital stocks are likely to suffer if the House plan to repeal and replace Obamacare eventually becomes law, including shares of companies such as Community Health (CYH) , HCA Healthcare (HCA) and Tenet Healthcare (THC) .
3. -- Facebook (FB) has signed deals with Vox Media, BuzzFeed, ATTN, Group Nine Media and others to make shows for its upcoming video service, which will feature long and short-form content with ad breaks, Reuters reported, citing several sources familiar with the situation.
Facebook is planning two tiers of video entertainment: scripted shows with episodes lasting 20 to 30 minutes, which it will own; and shorter scripted and unscripted shows with episodes lasting about 5 to 10 minutes, which Facebook will not own, the sources told Reuters.
Facebook's move to acquire and license original content is the latest in its push to attract more advertising dollars, putting the company in head-to-head competition with Alphabet's YouTube Red, Snapchat's Discover feature, and traditional television networks, Reuters noted.
5. -- Sears (SHLD) posted a quarterly adjusted loss of $230 million, or $2.15 a share, wider than a year-earlier loss of $199 million, or $1.86 a share. Sales at both the Sears and Kmart banners continued to plunge. Same-store sales at Sears crashed 12.4%, marking the 11th straight quarterly decline. At Kmart, sales dived 11.2%, and were down for the 10th straight quarter.
Other companies reporting earnings Thursday include Abercrombie & Fitch (ANF) , Best Buy (BBY) , Costco (COST) , Ulta Beauty (ULTA) , Brocade Communications (BRCD) , LionsGate (LGF) , Marvell Tech (MRVL) , Medtronic (MDT) and Splunk (SPLK) .
Read More Trending Articles:
- 25 Wealthiest States: What They Export, Whom They Employ
- Step Away From the Ledge: Cramer's 'Mad Money' Recap (Wednesday 5/24/17)
- Market Recon: Oil Prices and the Fed Are the Market's Guides Today
- Lowe's Is Getting Absolutely Smoked by Home Depot in One of the Biggest Housing Recoveries Ever
- Sears Just Reported Another Mind-Blowing Loss That Should Only Question If It Could Survive