Wall Street lower; cuts losses as oil prices reverse course

Oil prices were up about 0.5 percent after data showed a weekly drawdown in U.S. crude stockpiles. Crude prices' reversal helped the S&P energy index cut its losses to 0.76 percent, from 1 percent, and surrender its position as the biggest drag on the S&P 500. "The bulk of the important data is going to be coming out tomorrow so markets tend to get relatively quiet, going into the sideways mode waiting for that," said Randy Frederick, managing director of trading and derivatives for Char