US close: Stocks fluctuate after ECB's decision and disappointing economic data as oil prices plunge

The Dow Jones Industrial Average closed up 6.62 points at 17,673.02, while the S&P 500 and the Nasdaq lost 0.42% and 0.23% respectively.

Oil prices tumbled on Wednesday, bringing a four-session rally to an end, as US crude prices fell over 8%, their biggest one-day drop since November.

US crude inventories reached a record high, rising by 6.3m barrels last week to 413.06m barrels, the highest level since records began in 1982 and the fourth consecutive week the index has risen.

West Texas Intermediate futures settled down 8.7%, at $48.45 a barrel, registering its largest one-day percentage drop since 28 November, having closed 7% up on Tuesday.

Brent crude was $4 lower at $54 a barrel, having traded as high as $59 a barrel on Tuesday.

The European Central Bank on Wednesday said it is lifting the waiver on using Greek government debt as collateral.

"The governing council decision is based on the fact that it is currently not possible to assume a successful conclusion of the programme review and is in line with existing Eurosystem rules," the ECB said in a statement.

US employers added 213,000 jobs in January, missing forecasts of 220,000. December's gain was revised up to 253,000 from 241,000, which Capital Economics said was "extraordinary for the ADP because its revisions usually magically bring its estimates into line with the official non-farm payroll tally".

The Labor Department's non-farm payrolls report is due on Friday and is forecast to show a 230,000 increase in January after a 252,000 gain a month earlier.

Economists are looking for a moderation in the pace of employment growth following strong hiring in recent quarters and the January ADP report was broadly supportive of this view.

Meanwhile, US mortgage applications increased 1.3% in the week to 30 January after a 3.2% fall in December, the Mortgage Bankers Association said.

Among corporates on the rise, Whirlpool was spun 6.87% higher after posting better-than-expected sales, while General Motors gained 5.44% after pledging to lift its dividend 20% to 36 cents a share.

Walt Disney advanced 7.63% after earnings beat forecasts, while JM Smucker Company jumped 5.87% after announcing late on Tuesday it planned to buy Big Heart Pet Brands for $3.2bn excluding debt.

Going the other way, Chipotle Mexican Grill declined 6.97% after reporting late on Tuesday that sales missed estimates.

Staples plunged 11.99% after announcing it would buy Office Depot for $6.3bn, while Gilead Sciences dropped 8.16% after reporting that it expects price discounts for its hepatitis C drugs to double in 2015.

Gold futures rose 0.33% to $1,264.50, while the dollar fell 0.4% against the pound and the yen but rose 0.7% against the euro.

S&P 500 - Risers
Walt Disney Co. (DIS) $101.28 +7.63%
Whirlpool Corp. (WHR) $214.88 +6.87%
Kohls Corp. (KSS) $66.87 +6.35%
Edwards Lifesciences Corp. (EW) $134.85 +6.18%
J. M. Smucker Co. (SJM) $112.10 +5.87%
Cognizant Technology Solutions Corp. (CTSH) $57.89 +5.06%
Western Digital Corp. (WDC) $104.04 +3.33%
Hormel Foods Corp. (HRL) $53.96 +3.27%
Southwest Airlines Co. (LUV) $44.64 +3.21%
Peabody Energy Corp. (BTU) $7.28 +2.82%

S&P 500 - Fallers
Ralph Lauren Corp (RL) $139.71 -18.22%
Staples Inc. (SPLS) $16.73 -11.99%
Gilead Sciences Inc. (GILD) $98.43 -8.16%
Fastenal Co. (FAST) $42.22 -7.78%
AbbVie Inc (ABBV) $56.91 -7.69%
Chipotle Mexican Grill Inc. (CMG) $676.00 -6.97%
CH Robinson Worldwide Inc (CHRW) $70.50 -6.29%
Wynn Resorts Ltd. (WYNN) $146.05 -6.26%
PVH Corp. (PVH) $106.96 -5.96%
United States Steel Corp. (X) $24.23 -5.72%

Dow Jones I.A - Risers
Walt Disney Co. (DIS) $101.28 +7.63%
Visa Inc. (V) $264.89 +1.96%
Home Depot Inc. (HD) $108.41 +1.09%
Travelers Company Inc. (TRV) $106.73 +0.65%
E.I. du Pont de Nemours and Co. (DD) $73.74 +0.56%
Microsoft Corp. (MSFT) $41.83 +0.55%
Wal-Mart Stores Inc. (WMT) $86.65 +0.53%
AT&T Inc. (T) $34.41 +0.20%
Pfizer Inc. (PFE) $32.07 +0.16%
McDonald's Corp. (MCD) $94.05 +0.14%

Dow Jones I.A - Fallers
Merck & Co. Inc. (MRK) $59.05 -3.23%
Caterpillar Inc. (CAT) $81.95 -2.35%
Cisco Systems Inc. (CSCO) $26.69 -1.59%
General Electric Co. (GE) $24.16 -1.27%
Chevron Corp. (CVX) $108.35 -1.08%
Johnson & Johnson (JNJ) $101.36 -1.07%
International Business Machines Corp. (IBM) $156.96 -0.95%
United Technologies Corp. (UTX) $117.79 -0.93%
Nike Inc. (NKE) $92.54 -0.87%
Exxon Mobil Corp. (XOM) $91.46 -0.86%

Nasdaq 100 - Risers
Cognizant Technology Solutions Corp. (CTSH) $57.89 +5.06%
Western Digital Corp. (WDC) $104.04 +3.33%
Charter Communications Inc. (CHTR) $163.04 +3.21%
Broadcom Corp. (BRCM) $43.76 +2.78%
Autodesk Inc. (ADSK) $56.44 +2.77%
Comcast Corp. (CMCSA) $56.90 +2.69%
Discovery Communications Inc. Class A (DISCA) $30.11 +1.83%
Monster Beverage Corp (MNST) $118.73 +1.77%
Fiserv Inc. (FISV) $75.80 +1.76%
Automatic Data Processing Inc. (ADP) $86.58 +1.69%

Nasdaq 100 - Fallers
Staples Inc. (SPLS) $16.73 -11.99%
Gilead Sciences Inc. (GILD) $98.43 -8.16%
Fastenal Co. (FAST) $42.22 -7.78%
Vimpelcom Ltd Ads (VIP) $4.37 -6.42%
CH Robinson Worldwide Inc (CHRW) $70.50 -6.29%
Wynn Resorts Ltd. (WYNN) $146.05 -6.26%
Keurig Green Mountain Inc (GMCR) $121.20 -3.88%
Mylan Inc. (MYL) $53.22 -2.51%
F5 Networks Inc. (FFIV) $110.10 -2.00%
Regeneron Pharmaceuticals Inc. (REGN) $401.26 -1.94%