(CNBC) U.S. stocks closed lower Thursday, despite a surge in oil prices, as investors digested the European Central Bank's latest monetary policy decision and remarks made by its president, Mario Draghi.
"I think the market is sort of cross-fixed with all that's going on," said Bruce McCain, chief investment strategist at Key Private Bank. "Investors are trying to figure out whether they zig or zag."
"We need better earnings to justify these higher prices," he said.
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