Closing Bell: Crude Oil Plummets to 2017 Low; U.S. Stocks Churn Ahead of Jobs

Wall Street churned around the flatline for much of the day before settling higher. Investors appeared hesitant ahead of the release of the February jobs report out tomorrow morning. That report could seal the deal for a March rate hike. Crude oil extended its selloff into day two, falling to below $50 a barrel and settling at its lowest level since late November. Prices slumped after data on Wednesday showed ballooning U.S. stockpiles. Signet Jewelers (SIG) - Get Report rose after topping earnings estimates, though falling short of quarterly sales forecasts. The owner of Kay Jewelers reported a decline in same-store sales over the quarter, a result blamed on weak mall traffic. Sears (SHLD) jumped after closing its deal to sell its Craftsman brand to Stanley Black& Decker (SWK) - Get Report . The retailer has committed some of the cash from that sale to its pension plan.