U.S. stocks were in decline as a rare quarterly miss from Walt Disney (DIS) pulled the Dow lower. The retail sector was also selling off after Macy's (M) reported a disappointing quarter and federal regulators blocked a proposed merger between Staples (SPLS) and Office Depot (ODP) . Crude recovered a level above $45 a barrel and was well on its way toward $46 after an unexpected decline in domestic inventories. The EIA reported a drop of 3.4 million barrels of crude in the past week. Fossil Group (FOSL) lost nearly a third of its value after slashing guidance for its second quarter. Electronic Arts (EA) bested quarterly estimates thanks to its popular 'Star Wars' videogame franchise.
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