The main stock indexes in the US were trading lower by the close on Wednesday, with the Dow Jones Industrial Average falling more than 200 points and nearly all of the S&P 500's sectors weakening.
The consumer discretionary group dropped 2% as retailer Macy's ( M ) plummeted after missing on sales and lowering its earnings-per-share guidance, while warning of continued weakness in consumer spending for apparel and related categories.
The Walt Disney Co. ( DIS ) and Fossil Group (FSL) both reported results that missed estimates. US crude futures meanwhile closed at the highest level in about six months, although that wasn't enough to stem a 0.2% slip in the S&P's energy sector.
Only utilities managed gains during the session that saw markets trade lower throughout the day, save for a brief gain for the Nasdaq Composite. All of the Dow's components ended the session in the red, apart from a slim 0.1% gain for Microsoft ( MSFT ).
After a quiet day on the economic front, markets will look to Federal Reserve speakers on Thursday including Cleveland President Loretta Mester on inflation dynamics, Boston's Eric Rosengren at a luncheon in New Hampshire at 11:45 a.m. and Kansas City chief Esther George speaking on the economy at 2:15 p.m.
Here's where the markets stood at the close:
Dow Jones Industrial Average was down 217.23 points (-1.21%)
S&P 500 was down 19.93 points (-0.96%)
Nasdaq Composite Index was down 49.19 points (-1.02%)
FTSE 100 was up 0.09%
Nikkei 225 was up 0.08%
Hang Seng Index was down 0.93%
Shanghai China Composite Index was up 0.16%
(+) ENC (+14.22%) Said to be considering sale of its shale assets in British Columbia, Alberta, Bloomberg reported
(+) CSIQ (+12.42%) Names Huifeng Chang as CFO, succeeding Potter
(+) EA (+13.70%) Fiscal Q4 results beat expectations
(+) SYNC (+6.52%) Q1 results exceed co's own guidance
(-) CJES (-56.95%) Reported a narrower-than-expected loss on below-consensus revenue, lending covenant violated
(-) ODP (-40.56%) Federal regulators shelf Staples (SPLS -18.44%) merger
(-) FOSL (-29.08%) Q1 misses views, sets guidance below Street
(-) M (-15.17%) Misses on sales, lowers EPS guidance
(-) TRXC (-10.68%) Q1 loss beats views, reprioritizes regulatory efforts for ALF-X system
(-) DIS (-4.04%) Fiscal Q2 results improve vs. year earlier but fall short of CapIQ consensus
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