U.S. stocks were in flux on Wednesday as investors awaited further clues from the Federal Reserve as to the next rate hike. Markets got a shock on Tuesday after comments from two Fed officials suggested the June meeting was still in play. Crude also traded erratically after an unexpected increase in domestic inventories. The Energy Information Administration reported a 1.3 million-barrel increase in crude stocks in the past week, which conflicted with a separate API survey a day earlier. Staples (SPLS) reported a 30 percent decline in net income, though lowered expectations made for a better-than-expected first quarter. The stationery chain took a $66 million hit tied to its now-defunct takeover of Office Depot (ODP) . TheStreet's Keris Lahiff reports from Wall Street.
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