Wall Street was in retreat after enjoying its best day of the summer a day earlier. A disappointing quarter from Lowe's Cos. (LOW) triggered losses in consumer names, while defense stocks fell back after Tuesday's rally. New home sales tumbled in July. The number of newly-built homes sold last month fell 9.4% to a seven-month low. Sales also missed analysts' estimates. Crude oil inventories dropped for their eighth straight week in a row. Domestic stockpiles fell by 3.3 million barrels in the past week, according to the Energy Information Administration. Gasoline stocks also dropped, while distillates were unchanged. American Eagle Outfitters (AEO) surged after quarterly profit and sales came in above forecasts. The apparel retailer also reported a 2% increase in same-store sales, a surprise to analysts looking for a slight decline.