Strong quarterly performances from Target Corp. (TGT) and Urban Outfitters Inc. (URBN) inspired broader retail gains mid-week. The Dow retook a level above 22,000, while the S&P 500 sported a modest increase. Other retailers moved higher alongside Target and Urban Outfitters, partially reversing losses sustained a day earlier. The sector had tumbled on Tuesday after earnings disappointments from Coach Inc. (COH) and Dick's Sporting Goods Inc. (DKS) . Crude oil inventories declined at a far sharper pace than anticipated in the past week. Stockpiles fell by 8.9 million barrels, more than double estimates. Gasoline stockpiles were unchanged, while distillates rose. Mylan NV (MYL) increased after Citi analysts upgraded their rating to buy from neutral. The firm called the drugmaker the "best house on a somewhat beleaguered block," arguing it is best positioned to succeed in a tough climate.
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