U.S. stocks lost early momentum and turned lower and the S&P 500 index dropped to a new 2022-low. 

The S&P 500 index fell 0.6% to 3,631.13 and the Nasdaq Composite index dropped 0.4% to 10.767.54. 

Energy stocks traded higher after crude oil rebounded 2.5% from its nine-month low to $78.69 a barrel. 

Exxon Mobil, Hess Corp, Schlumberger and BP plc gained between 1% and 2%. 

BlackBerry Limited increased 0.7% to $5.01 and the maker of telecom devices and software developer is scheduled to release earnings at 5:30 p.m. ET Tuesday. 

Cal-Maine Foods Inc 1.3% to $60.48 ahead of the company's earnings release after the close of regular trading session today.   

Cracker Barrel Old Country Store, Inc rose 0.7% to $98.44 after the restaurant chain operator reported revenue in the fourth quarter ending on July 29th rose 5.9% to $830.4 million. 

Comparable restaurant sales increased 6.1% and retail sales rose 3.0%. 

Net income in the period decreased 8.0% to $33.4 million from $36.4 million a year ago. 

For the fiscal year, revenue rose $3.3 billion from $2.8 billion a year ago and net income plunged 48% to $131.8 million from $254.5 million a year ago. 

Hertz Global Holdings Inc increased 2.4% to $16.20 after the rental car company announced a partnership with BP Plc's electric vehicle charging unit to place thousands of charging stations to power the company's fleet.  

Jabil Inc increased 1.2% to 56.86 after the electronics manufacturing services provider said revenue in the quarter ending in August increased to $9 billion from $7.4 billion a year ago. 

Net income increased to $315 million from $175 million and diluted earnings per share rose to $2.25 from $1.75 a year ago. 

The company guided fiscal first quarter 2023 revenue to increase 9% from a year ago in the range between $9 billion and $9.6 billion and diluted earnings per share between $1.65 and $2.05. 

The company also announced a buyback plan of up to $1 billion of its own stock over the next two years. 

United Natural Foods Inc dropped 1.8% to $37.77 after the food wholesaler said revenue in the fourth quarter ending in July rose 8.0% to $7.3 billion. 

Net income decreased 9.3% to $39 million from $43 million and diluted earnings per share fell to 63 cents from 69 cents a year ago. 

For the fiscal year 2022, net sales increased 7.3% to $28.9 billion and net income increased 66.4% to $248 million from $149 million or $4.07 from $2.48 a year ago.