Closing Bell: Corrections Corp. Rebounds; U.S. Stocks Pare Losses

Stocks pared losses heading into market close as crude ended its seventh session of gains. The Nasdaq hugged the flatline, while the S&P 500 and Dow Jones Industrial Average posted minor losses. Crude oil held higher through to its close despite another increase in active oil rigs in the U.S. over the past week. Activity rose for the eighth straight week to its highest level since February. Crude ended with weekly gains of just over 9%.  Corrections Corp. of America (CXW) - Get Report rebounded from severe losses a day earlier even after credit-rating agency Moody's cut its credit rating to JUNK status. The stock has been in turmoil since the DoJ announced the end to its contracts with private prisons.  Dick's Sporting Goods (DKS) - Get Report announced it has purchased Affinity Sports for an undisclosed amount. Affinity's tech platform offers services to U.S. youth sports leagues.